China Raises Tax Rebate to Aid Textile Exporters

From Caijing Magazine:

On July 30 China announced that it will be increasing the tax rebate on a range of and garments from 11 percent to 13 percent beginning August 1 in an effort to assist the country’s textile exporters.

According to the State Administration of Taxation, the rising tax rebate will cover items including silk, wool yarn, chemical fabric and cotton products. Wu Di, deputy director of China Textile International Exchange Center, said that the tax adjustment has covered most textile and garment products.

Sun Weibing, spokesperson of China National Textile and Apparel Council, told Caijing that the tax rebate hike is set to curb the textile export slump and relieve ailing clothing exporters. It is expected to mitigate the pressures on China’s textile industry.

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