Guangzhou: Accelerating Export Tax Refunds to Help Ensure Stability and Improve Quality of Foreign Trade

2023-08-22

Recently, the National Development and Reform Commission and other departments jointly issued the "Notice on Implementing Several Recent Measures to Promote the Development of Private Economy", which clearly requires tax departments to ensure that the average processing time for normal export tax refunds for export enterprises is within 6 working days, and to compress the average processing time for normal export tax refunds (exemptions) for Class I and Class II export enterprises within 3 working days. The policy will continue to be implemented until the end of 2024. The Guangzhou Panyu District Taxation Bureau actively optimizes the process of handling export tax refunds, effectively accelerates the progress of handling export tax refunds (exemptions) in stages, and strives to provide "blood transfusion and blood circulation" for foreign trade business entities, alleviate difficulties, and promote the stability and quality of foreign trade. In the first half of the year, the export performance of the "new three types" of new energy vehicles, lithium batteries, and solar cells was impressive and attracting attention. The tax authorities in Guangzhou have made full use of their export tax refund policies, continuously accelerating the progress of tax refunds, and adding sufficient tax momentum to the "new three types" of exports. As a "lithium battery veteran" who has been deeply involved in the energy storage field for more than 20 years, Mr. Wang, the financial manager of Guangzhou Penghui Energy Technology Co., Ltd., has a deep understanding of this. Our company belongs to the category of export tax refund enterprises, and the tax department provides' report and review 'services for such enterprises. There is a dedicated communication group to send tax refund applications and processing information. The earliest application time is in the morning, and the tax refund can be received on the same day! "Mr. Wang said, Although lithium battery exports face some uncertainty in developed countries such as the United States, the implementation of tax refund policies has accelerated capital turnover and added substantial momentum for enterprises to explore new markets. With the support of various national preferential policies, our lithium battery products have been distributed to more than 20 countries in the United States, Europe, Asia and other regions, The tax department of Guangzhou has cumulatively processed export tax refunds (exemptions) of 21.74 billion yuan, of which Panyu District has processed export tax refunds (exemptions) of 2.305 billion yuan. As a video surveillance solution supplier that integrates research and development, production, sales, and service, Jiuan Intelligent Technology Co., Ltd. has been actively exploring overseas markets. However, recently, it has encountered a challenge in its export business: at the request of Indian customers, orders must be processed through direct export of raw materials to local production. The enterprise is puzzled whether this export business can normally enjoy tax refunds. Thanks to the timely delivery of policy 'reassurance' by the tax department, we were able to confidently secure this order! "Mr. Gao, the head of Jiuan Intelligent Technology Enterprise, said." After understanding our confusion, the Panyu District Tax Bureau quickly provided policy guidance on export tax refunds for 'deemed self-produced products' based on our actual situation. We can also arrange exports with confidence, In order to serve as a "ferryman" for export enterprises, the Panyu tax department actively carries out a special work on taxpayer satisfaction, upgrading the service from "passive acceptance" to "active guidance", allowing enterprises to fully enjoy various tax preferential policies, and providing pre service for enterprises to explore new business. Export tax rebates provide enterprises with more confidence in expanding overseas markets and provide more sufficient financial support for upgrading production capacity and increasing research and development. Thanks to the support of national policies, we have the confidence to invest in research and development at a rate exceeding 10% of sales revenue every year

Edit:XiaoWanNing    Responsible editor:YingLing

Source:China Daily

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