久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

  .contact us |.about us
news... ...
Search:
    Advertisement
China to increase tax-rebate quota
( 2003-06-17 07:49) (China Daily)

China is likely to increase its tax-rebate quota by between 20 billion yuan and 30 billion yuan (US$2.4 billion to US$3.6 billion) this year to encourage exports, experts said. A Ministry of Finance official said the ministry is working on a plan to increase the quota for this year.

The State Council must later approve the plan before it is put into practice, the official said.

Niu Li, a senior economist with the State Information Centre, said: "This is a piece of good news for export companies, which have been facing increasing difficulties since the SARS outbreak.''

The country's tax-rebate quota for this year is about 129 billion yuan (US$15.5 billion), which would be about 100 billion yuan (US$12 billion) less than the real demand if exports grow by only 10 per cent, he said.

Ni Hongri, a senior research fellow with the State Council's Development Research Centre, said the current fiscal situation made it possible for the country to increase the rebate quota by 20 billion to 30 billion yuan (US$2.4 billion to US$3.6 billion).

The fiscal situation for the first four months of this year has been surprisingly good, featuring the highest revenue growth and lowest increase in expenditure since 1998, Ni said.

By the end of April, the increased fiscal revenue reached 167.5 billion yuan (US$20.2 billion), well above the 158.7 billion yuan (US$19.1 billion) in increased revenue that the budget set aside for this year.

Tax rebates are common practice in international trade. The government usually returns value-added tax and consumption tax to export companies that sell products abroad to increase these companies' competitiveness.

But the Chinese Government has failed to pay the rebate promptly to export companies during the past several years because the country's fast growing foreign-trade business brought about demand for more tax rebates than the quota set at the beginning of each year.

Reliable sources said that, by the end of last year, the delayed payment of tax rebates reached more than 247 billion yuan (US$29.8 billion).

Tax refunds for last year and this year went largely unpaid to export companies in several major provinces and municipalities.

For some companies, tax rebates accounted for 70 to 80 per cent of their profits, Niu said.

"The delayed payments have created enormous difficulties for companies' business activities and are harmful to exports,'' he said.

Long Guoqiang, another research fellow with the Development Research Centre, said the delayed payment of tax rebates has become a problem of hidden debt in China's finance industry.

Some foreign-trade companies suffer from a lack of floating capital because of the delay in tax rebate payments. To deal with this, the relevant government departments have agreed that these companies can borrow from banks by showing their refund certificates.

The loans borrowed via this method account for a large proportion of the total in some areas, such as Ningbo in East China's Zhejiang Province, Long said.

Some foreign companies have become increasingly reliant on this kind of loans because of the fast-growing export trade and the slow payment of tax rebates.

"This will have a negative impact on commercial banks' business and possibly increase these banks' non-performing loans,'' he said.

   
Close  
   
  Today's Top News   Top China News
   
+A death too far in Falun Gong's history
( 2003-07-04)
+FM spokesman: central government guarantees Hong Kong people's legal rights
( 2003-07-04)
+Nuclear issue to be 'key topic' of China-South Korea talks
( 2003-07-04)
+Flood taming begins with sluice gates open
( 2003-07-04)
+China to launch two satellites to improve spacecraft safety
( 2003-07-04)
+A death too far in Falun Gong's history
( 2003-07-04)
+A death too far in Falun Gong's history
( 2003-07-04)
+FM spokesman: central government guarantees Hong Kong people's legal rights
( 2003-07-04)
+Economy predicted to grow at 8%
( 2003-07-04)
+Broken floodwall endangers Shanghai
( 2003-07-04)
   
  Go to Another Section  
     
 
 
     
  Article Tools  
     
  E-Mail This Article
Print Friendly Format
 
     
 
        .contact us |.about us
  Copyright By chinadaily.com.cn. All rights reserved  
主站蜘蛛池模板: 亚洲国产精品久久久久久网站 | 精品久久久久久综合网 | 久久久精品免费热线观看 | 欧美在线观看一区二区三区 | 国产欧美在线一区二区三区 | 成人五级毛片免费播放 | 久久一日本道色综合久久 | 成人自拍在线 | 久久欧美精品欧美九久欧美 | 色综合加勒比 | 成年人一级片 | 欧美在线一级精品 | 女人张开双腿让男人桶爽免 | 国产精品日本一区二区在线播放 | 成人性生片全套 | 日本一级毛片免费播放 | 欧美黄视频在线观看 | 国产成人黄网址在线视频 | 九九精品视频在线播放 | 亚洲免费高清视频 | 国产主播福利精品一区二区 | 在线观看亚洲专区 | 亚洲毛片免费在线观看 | 黄色三级网 | 毛片免费全部播放一级 | 欧洲美女a视频一级毛片 | 欧美精品一区二区三区四区 | 香蕉成人在线视频 | 91原创视频在线观看 | 亚洲黄网址 | 国产成人精品日本亚洲语音1 | 美女黄影院 | 久久久免费精品视频 | 做爰成人五级在线视频| 免费一级 一片一毛片 | 国产精品一国产精品免费 | 一区二区三区国模大胆 | 欧美亚洲中日韩中文字幕在线 | 成人免费一区二区三区在线观看 | 日本免费网址 | 美女黄色影院 |