Tax rebate rate of viscose fiber will significantly increase

According to sources, the state policy of callback on the textile export tax rebate rate has made some breakthrough, decision-making departments have agreed and stand-by to introduce this policy. But what will the alarm the industry is that the export tax rebate on viscose fiber will be a substantial adjustment which is possible to increase 10-15%. The end result will be officially announced by authoritative departments in mid-July.

It is reported that most of the export tax rebate adjustment on related products will be just like pre-market speculation, which is a 2-4 percentage points increase of textile export tax rebate rate, and garment export tax rebate rate increase of 4 percentage points. The industry believes that the export tax rebate for viscose fiber increased significantly since the industry downturn and the continuing fall down on prices of this year. Data from National Bureau of Statistics show that from January to May in this year, viscose fiber industry realized profits of 724 million yuan, 44.72% down compared with 13.1 billion last year. In which the total loss of loss-making enterprises raised from 8.19 million yuan in the same period last year to 402 million, an increase of up to 48 times.

From: Guangzhou Daily(20080709)