UPDATED: 16:10, October 22, 2008
With the approval of the State Council, the Ministry of Finance and the State Administration of Taxation have decided to raise export tax rebates on certain labor intensive, high-tech and high added-value products starting November 1, 2008.
The adjustment involves 3,486 items, accounting for 25.8 percent of the total products covered by the country's Customs Tariffs.
The export tax rebate on some toys, textiles and garments will be raised to 14%; the export tax rebate on daily necessities and porcelain artifacts will be raised to 11%; the export tax rebate on certain plastic products will be raised to 9%; the export tax rebate on certain furniture will be raised to 11% and 13%'the export tax rebate on anti-AIDS drugs, insulin freeze-dried powder of genetic recombination, xanthan gum, tempered glass, capacitor grade tantalum wire, anchor chain for ships, sewing machines, fans and carbide-tipped tools for computer-controlled machines will be raised to 9%, 11% and 13%.
Source: People's Daily Online