It was learned recently from the Municipal Bureau of Taxation that a total of 14,303 tax paying companies have been approved of export tax rebates in 2011, valued 385 bln yuan, increasing by 20.7% over the same period of the previous year. Ranking fifth nationwide and first in Zhejiang Province, the tax refunding aggregates provide sufficient capital support for the city’s open economy to reverse in adversity.
In 2011, faced with the complex economic situations domestically and internationally, foreign trade in Ningbo saw a continued upward trend, with its total volume almost hitting 1000 bln US dollars (98.188 bln US dollars) this year, up 18.4% over the same period the previous year. This includes 60.832 bln US dollars of exports, an increase of 17.1%. Correspondingly, the city’s tax departments have fully performed the regulatory function of taxation by properly carrying out export tax rebate policies, constantly simplifying relevant auditing and approving procedures based on controllable risks, and doing their utmost to reduce the time needed for the capital turnover of enterprises, thus refunding over 0.1 bln yuan per day on average for exporting enterprises, particularly for mechanical and electric, textile and garment companies.
In 2012, faced with new export situation and its new features, the city’s taxation department has formulated the “Breaking and Speeding” Campaign Plan on Export Tax Rebate, stating that it will be carried out in the first half of the year. This campaign will aim to take account of the reasonable demands of exporting enterprises, further improve the service and management of export tax rebate, accelerate relative auditing and approving procedures, and ensure timely and sufficient export tax refunding through various concrete measures such as raising the reading-in frequency of external information, trying out “spot application” of export tax rebate service in some regions, promoting internet application, upgrading the transmitting means of materials for approving, developing policy-promoting service and warning service, etc.
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