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China to hike export rebate rate of processed glass from November 1

Post Time:Oct 23,2008Classify:Industry NewsView:480

The Ministry of Finance (MOF) and the State Administration of Tax (SAT) has announced on October 21 that from November 1, 2008, the State will appropriately turn up the export rebate rate of some labor-intensive industry and high-tech and high-value-added products. It refers to 3,486 products, accounting for 25.8% of all the goods listed for customs duty.

Since July 1, 2007, China has reduced the export rebate rate of flat glass and processed glass: flat glass from 11% to 5% and processed glass from 13% to 5%. Now, the main processed glass exporters in China are key enterprises ranking Top in the industry. Different from flat glass, processed glass belongs to high-tech and high-value-added products. The decline of export rebate rate weakens companies’ international competitiveness, leading to heavy burden of value added tax, less profits and income tax. It goes against the development of processed glass industry in the long run.

In many ways, China Architectural and Industrial Glass Association reflects to the departments in charge and puts forth the idea to recover export rebate rate of processed glass.

Processed glass involved in the adjustment of export rebate rate includes tempered glass, laminated glass, hollow glass, glass hollow brick, conductive glass and LCD glass panel.

Source: GlassInChinaAuthor: shangyi

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