1% Profit is Valuable for Henan Textile Industry
Source: cntex Date: 2009-02-16
The Notice of Chinese increasing the tax rebate rate for textile and garment exports from Ministry of Finance and State Administration of Taxation made it clear that the tax rebate rate for textile and garment exports was going to increasefrom 14% to 15% by Feb. 1st 2009.
Referring to the national plan to invigorate China's textile industry adopted by the State Council and the increase of the tax rebate rate for textile and garment exports, Henan Textile Industry Association said, although the textile and gament exports of this province was less than 6 billion RMB yuan, 1% tax rebate rate was valuable to the foreign trade enterprises. Some official of this association further explained that this meant 1% profit. Only less than 1/3 of the enterprises over the nation could realize profit rate as more than 3%, the rest 2/3 counldnot reach 3%. Thus 1% profit was important
