China Increases VAT Refund Rates for Certain Exports
China increased its value-added tax refund rates for exports, according to a March 24 report from the Hong Kong Trade Development Council. The change, which took effect March 20, raised the refund rates for nearly 1,100 products to 13% and…
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raised the rates for another group of about 400 products to 9%. Products with a 13% rate now include porcelain sanitary ware, metal products, gemstone and chemical; goods with a 9% rate include plant growth regulators, fruits and meat, the report said.