China’s Government Announces New Round Action on Increasing Export VAT Refund Rates

Posted by Matt Schmitt on 11/1/18 5:00 PM

On Oct 22, 2018, the Chinese Ministry of Finance (MOF) and State Administration of Taxation (SAT) jointly announced a second round of increases on export VAT refund rates in Notice No. 123 of 2018. This is in addition to the recently announced action on increasing export VAT refund rates for 397 HS headings of exported goods.

Almost all exported goods from China, except for HS headings 23040010 and 23040090, are covered by this new measure. Export VAT Refund Rates for 1172 HS headings will increase more than 1% according to attached commodity list. The adjustment will enter into effect on November 1, 2018.

The original Chinese Notice No. 123, 2018 and attached commodities list may be found here:

http://szs.mof.gov.cn/zhengwuxinxi/zhengcefabu/201810/t20181019_3050975.html

A Google translated Notice may be found here:

https://translate.google.com/translate?hl=en&sl=zh-CN&tl=en&u=http%3A%2F%2Fszs.mof.gov.cn%2Fzhengwuxinxi%2Fzhengcefabu%2F201810%2Ft20181019_3050975.html&sandbox=1

Topics: China, VAT

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