An export tax rebate is a refund of domestic turnover taxes, such as value-added tax (VAT) and consumption tax, paid by businesses on products they export. This policy was introduced to boost the competitiveness of exported goods in international markets. China officially adopted the export tax rebate system in 1985.
China’s Ministry of Finance has recently announced a reduction in export tax rebates for batteries, a move likely to impact global battery markets. Export tax rebates, designed to boost competitiveness by reducing costs for manufacturers, are now being scaled back. Effective December 1, 2024, the rebate rate for these items will drop from 13% to 9%. This change means that the cost of goods may increase by up to 4% in the near future.
At Uniross, while reduced tax rebates may lead to increased costs, we have proactively implemented measures to minimize their impact on our products. Our goal remains unchanged: to maintain a competitive price advantage and sustain our position in the global market.