Tax refund are quite a considerable amount of revenue for companies, but many peopele complain that it takes too much time to get the refunds.
What's the meanning?
Grade A
A Grade-A company refers to one whose annual export volume surpasses 30 million dollars and who applies for tax refund on a regular basis. That means --- the higher your export volume is, the easier it is for you to be graded as a Grade-A company.
For Grade A companies, from the day they submit all the required papers to the tax office, they'll only need to wait for 2 to 5 work days before they receive the tax refunds.
Grade B
A Grade-B company refers to one who involves less tax refund or whose annual export volume is less than 30 million dollars or who is a newly established export refund company.
For Grade B companies,they'll need to wait for 10 to 15 work days to get the refund.
Grade C&D
A Grade C or Grade D company refers to one who has even less annual export volume and at the same time, hasn't engaged in tax fraud in the latest 3 years.
For Grade C and Grade D companies, the time needed for refund will be longer and the rules will be stricter.
However, your grade will not be the same one forever, but be given each year according to your last yea's performance. Therefore,bosses, you should always try your best to maintain or improve your company's grade so that you can have better chances of gaining tax refund.
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Original edited by HACOS,
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