Yuan settlement expands trials on tax refund

In the joint document of the Ministry of finance and the State Administration of Taxation, the yuan settlement tax refund trials have been expanded to the border provinces and autonomous regions. As stipulated, all domestically registered exporters can be favored with tax rebates, or free of duties, by general trade or in small amount when settled in yuan at border provinces or the autonomous regions like <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Inner Mongolia, Liaoning, Jilin, Heilongjiang, Guangxi, Xinjiang, Tibet and Yunnan. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

The exporters should offer the verifications provided by the related exchange regulators when declaring for tax rebates, otherwise, they will suffer their own losses if failed in submitting foresaid documents.

Any export settlement in yuan cash are excluded from the policy advantages. The trial tax refund shall be valid from March 1, 2010.