Tuesday, January 6, 2015
China Increases VAT Refund to Boost Textile and Apparel Exports
China retains an active value-added tax ("VAT") rebate program for exports. China's Ministry of Finance increased the VAT rebate for most textile and apparel products to 16 percent in 2009 effective April 1, 2009. According to a news account in World Textile Information Network ("WTiN") China has increased the VAT rebate on textiles and apparel to 17% (the entire VAT) at the beginning of January. Agathon Associates has contacted the U.S. Department of Commerce and they are working on getting official confirmation.