The New Policy Issued: November 1 Raised The Export Tax Rebate Furniture

Recently, the Ministry of Finance, State Administration of Taxation jointly issued

"on the improvement of export tax rebate rate of some commodities notice", from November 1, 2008, the appropriately increasing the textile, clothing, Furniture Export tax rebate rate and other labor-intensive products, some of which Furniture Export tax rebate rate to 11%, 13%, the 2% increase in the number of furniture enterprises, nothing less than amnesty, a piece of paper. Experts point out that the fourth quarter of fiscal stimulus, or frequent appearance.

Furniture export growth continues to decline

The latest Customs statistics show that from January to September this year, China's export growth of traditional bulk export commodities are falling sharply. Among them, the furniture export growth rate dropped 3.5 percentage points.

Vice Minister of Commerce Gao with the tour on the 15 th? 19 provinces of the 104th Canton Fair Director, Office of foreign trade and economic forum, Shanghai, Guangdong, Shenzhen, Jiangsu, Fujian, Beijing, Anhui representatives said that "now to the most difficult period." Represented at the fair part of the Chinese exhibitors and buyers from abroad have said this to be the number of overseas buyers are more visible than the previous two down, to a certain extent, that the global financial crisis is intensifying, this year and even next year, China's export situation is not optimistic.

Furniture industry "troubles" and "foreign aggression"

Raw material prices, labor costs increased gradually led to increased costs of furniture, so that the cost of furniture industry pressure. Started in June last year, wood, leather, metal alloys and other raw materials prices rose 5% to 20%, with the prices of raw materials, furniture general rise in commodity prices, all kinds of furniture,

Decoration materials, the average price increase has reached 10% to 20%.

Last year, the Ministry of Finance and State Administration of Taxation jointly issued the "Ministry of Finance State Administration of Taxation on the lower part of the notification of export tax rebate rate," the abolition of export tax rebate of goods involved, "leather, some wood and a one-time wood products ", lower export tax rebate rate of merchandise related to" plastic and rubber and their products, some stone and ceramics and their products, some steel products, furniture, and viscose fiber. " Furniture export tax rebate rate down to 11%, or 9%, part of the wood products export tax rebate rate down to 5%. The new export tax rebate policy implementation,

Appreciation of the renminbi, making furniture exports, profits have fallen sharply, the export-oriented furniture industry of hardship ahead.

In the first half, China's furniture enterprises above designated size reached 85.3 billion yuan output value, increase speed of up to 30.22%%; entire industry exports reached 8.43 billion U.S. dollars, up by 29.2%. Not a good thing too fast export growth, prosperity behind, reflecting the furniture industry in China has been a serious excess capacity. This led to the U.S. anti-dumping wooden furniture in China, the EU was also considering the Chinese software furniture anti-dumping investigation, the furniture industry is undergoing this test of international trade barriers.

Raised export tax rebates will ease the enterprise crisis

As Southeast Asia, Africa and South America and other timber exporting countries to strengthen control on the timber resources and vigorously implementing forest certification, resulting in tight timber imports, while soaring oil prices lead to increased freight costs, the levy of consumption tax also taxes costs increased by 6%%. Lead timber, plastic, metal furniture, tight production and raw material import prices rise, companies purchase price of raw materials rose 10 yuan per square meter or so. The price increase is more expensive wood, like rosewood, balsam of pigeon pea and other valuable hardwood price increase has even reached 30%% to 80%%. In addition, coupled with the increased cost of labor, leading to many small enterprises have ceased production, and even closed down.

Present the greatest impact on China's furniture industry is not the foreign anti-dumping sanctions, but the energy and rising prices of raw materials and labor cost increases, resulting in corporate profit margins are compressed. At the same time, exports of furniture are much lower than average price increases of raw materials prices rise, some areas of the furniture export prices lower on the furniture industry these production operations cause great risk. This time I believe the adjustment of export tax rebates will furniture ease the crisis.

The New Policy Issued: November 1 Raised The Export Tax Rebate Furniture

By: blairzhang

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