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: 三级网站视频 | 在线满18网站观看视频 | 国产亚洲精品国产一区 | 99视频只有精品 | 男女朋友做爽爽爽免费视频网 | 欧美丰满大乳大屁股毛片 | 女人精aaaa片一级毛片女女 | 免费精品一区二区三区在线观看 | 亚洲综合精品一区二区三区中文 | 日本a级毛片免费观看 | 亚洲一区二区三区免费看 | 国产一级毛片卡 | 狠狠色丁香婷婷综合 | 国产高清一级视频在线观看 | aaaaaa毛片免费看 | 精品成人在线视频 | 91成人免费观看 | 日韩国产一区二区 | 欧美男女网站 | 国产一区二区三区久久小说 | 久久综合网址 | 亚洲一级在线观看 | 中国一级片免费看 | 日本一区视频在线观看 | 五月久久亚洲七七综合中文网 | 萌白酱福利视频在线网站 | 亚洲一级二级三级 | 国产波多野结衣中文在线播放 | 在线看片a | 国内精品久久久久久影院8f | 久久99国产精品视频 | 中文字幕日韩一区二区 | 黄a 大片a v 永久免费 | 欧美一级片观看 | 日韩欧国产精品一区综合无码 | 亚洲欧美一区二区三区不卡 | 国产乱子伦片免费观看中字 | 亚洲成人免费 | 99视频在线观看高清 | 成人黄色免费观看 | 国产欧美日韩在线观看 |