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Export tax rebate rates for 569 products in Ningbo increase

Recently, Ministry of Finance and State Taxation Administration has jointly issued the Announcement on Increasing Export Tax Rebate Rates for Some Products. From March 20, increase export tax rebate rates for 1,464 products including chemical products and plant products. It is learned from Ningbo Tax Service that chemical products, plastic products and other products that count for high proportion of exports in Ningbo are all within the scope of the new policy, involving a total of 569 export products, benefiting more than 5,200 export enterprises in the city. It is estimated that the annual export tax rebate will newly increase by over 350 million yuan.

 “The increase in export tax rebate rate is beneficial for the foreign trade, helping stabilize the situation. We are going to establish a tracking service mechanism for the establishment of export companies to ensure the tax rebate bonus,” an officer in No. 2 Tax Office of Ningbo Tax Service said.

 It is reported that Ningbo Tax Service will continue to improve the "non-contact" export tax rebate (exemption) service for foreign trade enterprises and launch a tax rebate package containing "zero-touch" declaration and "zero-delay" approval to further simplify the process, which help export enterprises get back to work and free up capital. The government are working hard to secure companies’ orders, conventions and markets

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