New Export Tax Rebates To Promote Stable And Upgrading Foreign Trade

The executive meeting of the State Council decided to further decentralization and improve the export tax rebate mechanism, and adjusted the export tax rebate rate of some products.

What impact will this have on promoting the growth of foreign trade? Some experts and insiders have expressed their unique views.

Prior to that, the right to examine and approve the export tax rebates was basically concentrated in the national tax departments of provinces (autonomous regions and municipalities), and the level of examination and approval was more.

"Enterprises from the declaration of export tax rebates to receive tax refund time is too long, often more than half a year, the financial cost is too high.

The central government decided to lower the examination and approval authority of export tax rebates, which will enable enterprises to get tax rebates faster and greatly improve the speed and efficiency of capital turnover.

Zhang Bin, director of the Tax Research Office of the Institute of Finance and economics, Chinese Academy of Social Sciences, said.

"In the past, the adjustment of the export tax rebate is mostly based on the tax rebate rate. This time, we should emphasize decentralization and decentralization, which will greatly improve the efficiency of the export tax rebate and reduce the enterprises.

It is a new breakthrough in the reform of the export tax rebate mechanism. "

Bai Jingming, deputy director of the Financial Science Research Institute of the Ministry of finance, believes that ensuring timely and full tax rebates and raising capital turnover is particularly important for small and medium-sized enterprises.

"Under the export tax rebate mechanism with help and control, decentralization and decentralization are important to export enterprises.

How to prevent export at the stage of coexistence with risks

How to grasp the opportunities under the export tax rebate is a new requirement for fiscal managers in the new era.

GTS Gunton, director of the Tax Research Institute Chen Zhaoyan said.

In response to the latest export tax rebate policy, GTS (Gunton tax Summit) was invited to be professor of the Yangzhou taxation School of the State Administration of Taxation, and was the first time authority interpretable officer of the Shandong provincial tax bureau's export tax rebate.

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"On the export side, exports to the major trading partners of the United States and ASEAN have picked up, but due to the rapid growth of the nominal effective exchange rate, the export to the EU and Japan is obviously weak."

Hu Yanni said, and in terms of imports, it is mainly international commodities, especially crude oil prices have plummeted, driving the price of basic metals to a slump, while bulk raw materials are China's major imports, from the volume of imports has seen growth, but the volume increase, the price drop, dragging the import data.

According to the General Administration of customs, the decline in global commodity prices last year lowered China's import value by 3.3 percentage points.

In fact, between 2012 and 2014, the annual real growth rate of China's imports and exports of 6.2%, 7.6% and 3.4% failed to reach the target.

Experts said that under the new normal economic situation, foreign trade should also enter the new normal. We should not expect too much of the recovery of the European and American economies. We should increase the intensity of reform and opening up and innovate the system and mechanism, so as to boost the structural adjustment, optimize the structure and enhance the competitiveness of products, thus counteracting the impact of the sluggish external demand.

Not only speed but change from structure to more in the global value chain.

"Although the foreign trade data are not good, it also shows China's policy of letting go of low-end foreign trade, and further promotes the upgrading of export industries, forcing the economy to achieve pformation through exchange rate means, and the traditional growth driven mode will give way to the reform drive."

Wang Chun, chief strategist of HSBC Jinxin fund, said.