China VAT Rebates Rise

China's Ministry of Finance announced certain rebates on value added tax (VAT) for exported goods have been increased.

China's Ministry of Finance (MOF) and State Administration of Taxation have jointly issued a circular (No. 88 [2009]) announcing the latest round of adjustments of export value added tax (VAT) rebate rates.

As of June 1, 2009, the VAT rebate rate for products such as bags, footwear, headwear, toys and furniture has increased to 15%. Similarly, the VAT rebate for certain plastics, ceramics and glass products has risen to 13%.

The detailed description is available in Chinese.

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