Export tax rebate rate for some mechanical and electrical products in Dongguan will increase

Under the circumstances that the foreign trade situation this year is still complex and grim, "stabilizing foreign trade" can be said to be urgently needed. The State Council executive meeting recently held to determine the policy measures to promote the stability of imports and exports, and promote the transformation and upgrading of foreign trade has become an important topic of the meeting. As a major foreign trade center, this wave of policy dividends will also have an impact on Dongguan and benefit many Dongguan companies.

Export Tax Rebates Will Help Enterprises Cross the Difficulties

Just a week before the State Council Executive Meeting was held, the import and export data in the first quarter was released. Although exports exceeded 10%, but after deducting seasonal factors and exchange rate factors, the export data once again returned to the negative growth range. Previously, the results of the Ministry of Commerce survey also showed that the overall foreign trade situation in 2016 was indeed more complicated and grim than in 2015.

In this context, the introduction of favorable policies can be said to be timely. These specific policies include encouraging financial institutions to lend to high-quality foreign trade companies, expanding the financing of export credit insurance policies, raising the export tax rebate rate for some mechanical and electrical products, canceling the examination and approval of processing trade business, expanding cross-border e-commerce, market procurement trade modes, and trials for foreign trade comprehensive service companies. Focus on supporting the import of advanced equipment and technology, and further reducing the average export inspection rate.

According to Lin Jiang, director of the Department of Finance and Taxation at Lingnan University, Sun Yat-sen University, these policies can be said to have gold content. For example, electromechanical products account for nearly 60% of the total. Even if only some products are adjusted for export tax rebate rate, they will have a great impact.

A wool textile production equipment manufacturer in Dongguan said that Dongguan has a large number of electromechanical companies and increases the export tax rebate rate for some electromechanical products. This favorable policy will benefit many Dongguan enterprises. Previously, the machine tool products have adjusted the export tax rebate rate. For industries where profits are already very thin, the increase in export tax rebates can help companies tide over many difficulties.

According to expert analysis, the importance of export tax rebates for foreign trade companies is self-evident. Companies hope to obtain more tax rebates, which will give them greater advantages in product prices. The policy of increasing the export tax rebate rate for certain electromechanical products will undoubtedly promote the adjustment of foreign trade structure and stimulate the export of electromechanical products.

Export inspection rate further reduced

The State Council Standing Working Conference pointed out that in order to explore the pilot status of cargo status classification supervision in qualified special customs supervision regions, under the premise of fair tax burden and controllable risks, qualified qualified VAT taxpayers should be given qualifications. Further reduce the average inspection rate of exports, and promote the construction of “single window” of international trade to the central and western areas where conditions are favorable during the year.

The so-called “customs inspection” refers to the fact that the Customs, after accepting declaration from the customs declaration unit, is in accordance with the law to determine whether the nature of the inbound and outbound goods, origin, status, quantity, and value of the goods conforms to the details already reported on the goods declaration form. Check the administrative behavior. The purpose of the inspection is to check whether the single goods are the same, and to check for any irregularities such as concealment, false reports and false reports.

If the export inspection rate is high, customs clearance time will usually increase. If inspections are repeated, it will not only delay the customs clearance time, but also increase the cost of the company's operations. Therefore, reducing the export inspection rate is a policy support that many foreign trade companies hope to obtain.

In addition, the expression in the New Deal about encouraging financial institutions to make loans to orderly and profitable foreign trade companies is also particularly important for foreign trade companies. The person in charge of Dongguan Kaili Electronics Factory believes that many small and medium-sized foreign trade companies are faced with the problem of financing difficulties. Under the current situation, policies need to be introduced to guide banks and other financial institutions to increase support for SMEs.

At the National Conference on Foreign Trade Video Calls and Conferences recently held, Vice Mayor Yang Xiaoxuan pointed out at the Dongguan branch that in the complex and ever-changing foreign trade environment, as a major foreign trade city, Dongguan’s foreign trade work situation is also more severe this year. Next, Dongguan also We will thoroughly understand and use the foreign trade policies of the national, provincial, and municipal governments to promote the “steady growth and structural adjustment” two-wheel drive and achieve stable and good foreign trade in Dongguan.

These specific policies include encouraging financial institutions to lend to high-quality foreign trade companies, expanding the financing of export credit insurance policies, raising the export tax rebate rate for some mechanical and electrical products, canceling the examination and approval of processing trade business, expanding cross-border e-commerce, market procurement trade modes, and trials for foreign trade comprehensive service companies. Focus on supporting the import of advanced equipment and technology, and further reducing the average export inspection rate.