| SAT: export tax rebate up 20% in 1st 2 months |
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| Wednesday,March 25,2009 Posted: 15:36 BJT(0736 GMT) |
| From:govcn Article type:Reproduced |
China's State Administration of Taxation (SAT) said Monday the actual export tax rebate in the first two months stood at 66.7 billion yuan (9.77 billion U.S. dollars), up 20.8 percent year-on-year.
"The actual export tax rebate rose despite the fact that export volume declined. It shows the country's tax rebate policy is taking effect," the SAT said in a notice.
China increased the export tax rebate for labor-intensive, mechanical and electrical products in the second half of last year.
"Exports in those industries, therefore, declined slower than others," the notice said. "The increased tax rebate has in a sense eased capital pressure for some businesses."
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