East China’s Anhui province granted export tax rebates or exemptions worth 18.75 billion yuan ($2.78 billion) in the first eight months this year to relieve the financial pressure on local enterprises amid the COVID-19 pandemic, according to Anhui Provincial Tax Service, State Taxation Administration.
Starting from March 20, China raised the export tax rebate rates for 1,464 items from 10 percent to 13 percent, or from 6 percent to 9 percent, Xinhua News Agency reported, citing the State Taxation Administration.
Up to 6,073 enterprises in the province benefited from the policies from January to August. The export tax rebates and exemptions totaled 18.75 billion yuan, up 3.5 percent from the same period a year ago.
China is improving the implementation of export tax rebates, tapping the
potential of customs clearance reform and optimizing services for
enterprises amid efforts to stabilize foreign trade and investment, according to Xinhua.