SMM News: On October 25, the Ministry of Finance website reported that in order to further simplify the tax system and improve the export tax rebate policy, the Ministry of Finance and the State Administration of Taxation adjusted the export tax rebate rate for some products. The relevant matters are notified as follows:

I. Increase the export tax rebate rate for products such as photo paper film, plastic products, bamboo flooring, grass and rattan weaving products, toughened safety glass, and lamps to 16%. Increase the export tax rebate rate for lubricants, aircraft tires, carbon fiber, and some metal products to 13%. Increase the export tax rebate rate of some agricultural products, bricks, tiles, fiberglass and other products to 10%.

2. Cancellation of export tax rebates for soybean meal. Soybean meal refers to products with product codes 23040010 and 23040090.

3. Except for the products covered by Articles 1 and 2 of this notice, for the remaining export products, if the original export tax refund rate is 15%, the export tax refund rate is increased to 16%; if the original export tax refund rate is 9%, the export tax refund rate is increased to 10 %; If the original export tax refund rate is 5%, the export tax refund rate is increased to 6%.

4. This notice shall be implemented from November 1, 2018. The export tax rebate rate applicable to the goods listed in this notice is defined by the export date indicated on the export goods declaration form.