Probably we are all familiar with Export Tax Refund, today, we`re going to talk something about that.
First of all , Export Tax Refund can help the enterprises reduce the cost of export , and enhance the competitiveness of the production in the international market. The quicker the tax refund done ,the quicker the enterprises can gain a working capital.
Export Tax Refund is for the export enterprises, enterprises should meet the following qualifications:
1. Having the Independent Right of Own-operation Export and Import
2. Being a General Taxpayer
If you meet none of them, you should prepare the application quickly!
Secondly, not all goods can apply for the export tax refund,
the following conditions should be met:
1. Goods that have not paid the Value-added Tax & Consumption Tax (including the tax-free goods according to the state regulations) can not obtain the tax refund. In order to obey the principle of “No Taxpaid No Refund”, the goods must provide the Value-added Tax Special Invoice.
2. Export goods declaration departure Done
3. Financial Export Sales processed , Foreign Exchange recieved
Third, How to calculate the refund amount.
Export Refund Amount= Value-added Tax Invoice Amount/(1+Value-added Tax Rate) * Export Refund Rate
Case: One Foreign Trade Company export some mobile phone accessories, the invoice amount is 1 million dollars, both the Export Rates rate and value-added tax rate are 17%.
Export Tax Refund Amount= 1 million/(1+17%) * 17% ≈ 145 thousand
What are you still waiting for? Hurry up!
HACOS not only supply professional consultancy of Export&Import Right and General Taxpayer Qualification, but aslo Ageny services of export&import.
More Information, please don`t heistate to contact us.
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