Which are the policies that are prescribed by these rules?
The new policies are geared to encourage exports of Chinese manufactured products as well as to strengthen the administration. The rules regard exported goods. The new rules broaden the range of production enterprises that benefit from the tax refund policy with respect to their VAT. Currently, all production enterprises are eligible even those that are not licensed. The only requirement is that they must export self-produced goods directly or through a designated export company. It is no longer required that over 50% of total sales must be exports in order to qualify for the tax refund. Further, it is now possible to apply for tax refunds every month instead of each quarter.
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