China Raises Export VAT Refund Rates for Some Products

According to the Announcement on Raising the Export VAT Refund Rates for Some Products (Announcement No. 15 [2020]) recently issued by the Ministry of Finance and the State Taxation Administration, with effect from 20 March 2020, export VAT refund rates for 1,084 types of products, including porcelain sanitary ware, metal products, gemstone and chemicals, were increased to 13%, and the refund rates for another 380 types of products, including plant growth regulators, fruits and meat, were increased to 9%. The applicable VAT refund rates of products are determined by the export date shown on the Export Commodity Customs Declaration Form.

Source: State Taxation Administration