background:
On June 19, the Ministry of Finance and the State Administration of Taxation issued the "Notice on Lowering the Export Tax Rebate Rate for Some Commodities". According to the notice, China will cancel the export tax rebate for 553 products from July 1, 2007, and reduce the export tax rebate rate for 2,268 products.
A few days ago, Hangzhou Customs statistics experts said that from the export data of January-May 2007 this year, the export tax rebate adjustment will have an impact on the export of more than half of Zhejiang's commodities, and private enterprises bear the brunt.
Statistics show that from January to May 2007, Zhejiang Province exported a total of 24.09 billion US dollars of goods that canceled or reduced export tax rebates (hereinafter referred to as: export tax rebate), and the export volume increased by 33.3% over the same period of last year, higher than the province in the same period. The growth rate of exports was 3.4 percentage points, accounting for 51% of the province's total exports during the same period, and the contribution rate to the province's export growth was 55.2%.
Further analysis shows that various types of export commodities are affected by this policy adjustment:
Traditional Zhejiang export commodities such as clothing, furniture, footwear and plastic products have been hit hard. From January to May, Zhejiang Province exported 6.24 billion US dollars, 1.84 billion US dollars, 1.38 billion US dollars and 820 million US dollars respectively to clothing, furniture, footwear and plastic products. The export tax rebate rate of all the tax codes under the above four categories of commodities Was lowered. In addition, major export commodities such as bags, fasteners, bedding, lamps and hand or machine tools have also been greatly affected.
The export impact on textiles, auto parts and medical instruments is relatively small, with no impact on exports of ships and water and sea products. From January to May, Zhejiang's exports of textiles, auto parts and medical instruments related to export tax rebates were 280 million US dollars, 5.146 million US dollars and 4.265 million US dollars, accounting for only 4.7%, 0.6% and 2.5% of their respective exports; In the past five months, Zhejiang Province did not export goods subject to export tax rebates under the export of ships and water and sea products.
From the perspective of export enterprises, this adjustment involves a total of 75% of export enterprises in Zhejiang Province, and private enterprises are “the first to bear the bruntâ€. From January to May, a total of 17,708 enterprises in Zhejiang Province were engaged in the export of goods subject to tax rebate reduction, accounting for 73.6% of the total number of export enterprises in Zhejiang Province during the same period. Among them, there are 14,380 private enterprises engaged in the export tax reduction rate, accounting for 81.2% of the total number of export enterprises, and the export tax rebate rate of private enterprises is 9.73 billion US dollars, accounting for 40.4% of the total export value of the province. %.
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