In the current complex and volatile trade environment, to promote the stabilization of foreign trade, the state has actively introduced export tax rebate policies.
On March 17, the Ministry of Finance and the State Administration of Taxation issued an announcement on increasing the export tax rebate rate of some products (Ministry of Finance and State Administration of Taxation Announcement No. 15 of 2020), increasing the export tax rebate rate of 1084 products to 13%, including about 700 A variety of chemical products. Relevant adjustments will be implemented from March 20.
The export goods that had previously abandoned the export tax rebate and chose to be exempt or taxed, because the new policy has increased its export tax rebate rate, and feel that re-selecting to restore the export tax rebate is more cost-effective than exemption or taxation, you can choose to resume the export tax rebate. After giving up the applicable export tax refund (exemption) tax policy, less than 36 months shall not be re-selected to resume the policy restrictions on export tax refund
As can be seen from the list, the products involved in the chemical industry include: ethylene, propylene, 1-butene, 2-butene, isoprene, acetylene, cyclohexane, epoxy resin, polyester, styrene-butadiene rubber , Polystyrene, ABS, etc., have adjusted export tax rebates, and the export tax rebate rate is set to 13%. Among them, for the first time, ethylene was raised from 10% to 13%, propylene was raised from 9% to 13%, and styrene was raised from 10% to 13%. In addition, a number of chemical products showed an upward range of 3 points.
According to the new measures, imported goods that have arrived at the port before the outbreak but cannot be declared in time due to the outbreak, and imported goods that cannot be declared in time due to operating difficulties or shortage of funds after the resumption of work by the enterprise can be based on customs. The measures for the collection of deferred payment for imported goods shall be applied to the customs of the place of declaration for reduction or exemption.
Enterprises that have difficulty in paying taxes due to the epidemic situation can also submit a written application to the customs of the place of application for tax extension and provide a tax payment plan for up to 3 months.
In addition, for goods declared to be imported before the end of April and released with bank guarantee or customs guarantee insurance, the enterprise can apply for a maximum extension of 3 months. At the same time, if the manual is overdue due to delayed resumption of work during the epidemic period, the company may apply to the competent customs office for a temporary extension of the manual validity period; if the declaration business of processing, deep processing carry-over, and domestic sales exceeds the prescribed time limit, the company may apply for an extension Customs formalities.
The relevant person in charge of the General Administration of Customs said recently that although the new crown pneumonia epidemic has caused a certain impact on foreign trade import and export in the short term, China's foreign trade development is highly resilient, and the company's adaptability and market development ability are also very strong. The impact of the epidemic on import and export is temporary. And phased.
