Ministry of Finance
State Administration of Taxation
Decree [2007] No. 64
Circular of the Ministry of Finance and the State Administration of Taxation of the People's Republic of China regarding the adjustment of the tax refund rate for the export of steel products
To the Finance Departments (Bureaus) of each province, autonomous region, centrally-governed municipality, and city with separate planning, and to the State Administration of Taxation and the Finance Bureau of Xinjiang Production and Construction Military Area:
Upon the approval of the State Council, the export rebate rate will be reduced to five percent for some special steel products, stainless steel sheets, cold rolled products (a total of 76 tariff codes) stipulated in Chapter 72 of the "Import and Export Tariff." Meanwhile, the rebate rate for the other 83 tariff codes in the same chapter will be cancelled, effective as of April 15, 2007. As for the details of the tax rebate adjustment, please see the attached document.
The specific execution date is subject to the export date on the "Customs Declaration Form of Export Commodities" (a form which is used especially for tax refund purposes).
Steel exports for long-term foreign projects tendered or contracted before April 15, 2007, in which the prices cannot be changed, shall be allowed to be executed based on the original rebate rate so long as the related export enterprises which are qualified to contract long-term international projects go to the taxation authorities in charge of export rebate issues for record filing and registration before April 21, 2007. For this purpose, they will require the valid documents that prove the winning of a tender (originals and copies) or the signed project contracts (originals and copies) and the budget estimation lists of the projects. For those who fail to do so, the exports will be executed in accordance with the adjusted rebate rate.
Attached: Details of the Tax Rebate Adjustment
Ministry of Finance of People's Republic of China
State Administration of Taxation of the People's Republic of China
April 9, 2007
The list of items according to new rebate rates are as follows:
List of items as per new tax rebate rates.