The latest statistics from the IRS import and export tax administration, the first quarter of this year, the city has accumulated for export refund (exemption) 865 million yuan, an increase of 8.5%. Which the cumulative export tax rebate for 775 million yuan, an increase of 20%, the cumulative handling Free arrived in the cold storage of 090 million yuan, down 40%.
Industry insiders pointed out that the city’s export refund (exemption) up sharply growth, and offset-free cold storage up sharply down, the reason is mainly the following three aspects: First, the export of foreign trade enterprises was the trend of continued growth; increase in deductible input tax of fixed assets; impact of changes in raw material inventory.
The source said that in recent years, the city’s foreign trade circulation enterprises, exports were the good momentum of sustained growth, mainly due to five factors: First, Yiwu customs clearance formalities convenient. The second is the speed of export tax rebate of Yiwu tax authority. Third, the continued growth of the total foreign trade companies. The statistics show that the end of March this year, the city’s foreign trade companies, the number of households up to 1500, an increase of 272 over the same period last year, most of them up his own company for foreign export. Fourth, foreign trade companies to change the export rebate way to export from the past, tourism and shopping instead of the general trade export tax rebate. Fifth, the introduction of foreign trade by the Yiwu municipal government support policies, such as the award exports, organize enterprises to foreign exhibitors, part of the return of premiums, and aroused the enthusiasm of enterprises to develop foreign trade business.
It is understood that, in accordance with existing relevant policies and regulations, VAT, fixed assets, grant deduction, therefore, the amount of input tax increase will increase the share of Exemption, tax total tax rebate, while the corresponding reduction in the proportion of free arrival. At present, the knitwear industry is the city’s leading industry, clothing, socks, nylon filament this year, export sales compared with last year a substantial increase in the enterprise to improve product quality and quantity of positive purchase fixed assets such as machinery and equipment, thereby increasing the fixed assets input tax deduction. In addition, the prices of raw materials to enable enterprises to input tax increase, remaining tax increase, increase in the amount of tax rebate, free tax credit has been significantly reduced.