Jinhua in Zhejiang province successfully processed export tax rebates and exemptions amounting to 30.18 billion yuan ($4.22 billion) in 2023, benefiting 11,309 enterprises, according to statistics released by the city's taxation bureau on January 18.
This achievement was bolstered by a series of measures implemented by authorities, including the seamless transition to online processing of the entire export tax refund procedure, the simplification of export tax refund invoices and export declarations, and the introduction of conditional processing and instant review and refund mechanisms.
These initiatives significantly accelerated and streamlined the export tax refund process, reducing the processing time for first-class and second-class export enterprises to within 3 working days.
Wang Hui, the financial director of Zhejiang Lijiujia Sports Equipment Co, highlighted that her company received a substantial tax rebate of 32 million yuan, effectively mitigating the impact of escalating raw material prices, such as copper and aluminum, as well as currency exchange rate fluctuations.
Furthermore, authorities actively disseminated favorable policy updates to eligible enterprises, delivering over 10,000 pieces of information through digital service platforms.
They also provided round-the-clock comprehensive services and facilitated 244 enterprises across the city to benefit from the pilot policy, resulting in the processing of export tax rebates totaling 19.16 million yuan.
These proactive measures have not only supported local enterprises in navigating economic challenges but have also significantly contributed to sustaining and enhancing Jinhua's foreign trade activities.
