China’s Export Tax Rebates 2022
In order to support foreign trade, the Chinese tax authorities have accelerated the export tax rebate process this year.
According to the latest data released by the State Administration of Taxation, the country handled 1.64 trillion yuan (USD 228 billion) in export tax refunds and exemptions in the first 11 months of 2022, a year-on-year increase of 14.9 %.
The export tax rebate procedure has been simplified, allowing all export tax rebate applications to be handled online since the start of 2022.
Additionally, the processing time has been reduced. Export tax refunds are now processed within six working days on average since the beginning of 2022. Companies with good tax records can see the processing time cut to within three working days.
Customs data showed that China's exports of goods rose 13% year on year to 19.71 trillion yuan from January to October.