Circular on Export Tax Refund Policies Applicable to Goods with Main Raw Materials of Precious Metals and Precious Stones

Circular on Export Tax Refund Policies Applicable to Goods with Main Raw Materials of Precious Metals and Precious Stones

Cai Shui [2014] No.98

December 9, 2014

To finance departments (bureaus) and offices of the State Administration of Taxation in all provinces, autonomous regions, municipalities directly under the Central Government and cities specially designated in the state plan, and the Finance Bureau of the Xinjiang Production and Construction Corps,

With a purpose of improving export tax refund policies and effectively controlling policy risks, the Circular is hereby given as follows on the export tax refund policies applicable to goods whose main raw materials are precious metals and precious stones:

Article 1 If 80% or more of raw material costs of the goods exported by export enterprises and other entities involve the raw materials listed in the Appendix hereto, the value-added tax ("VAT") and consumption tax policies applicable to the raw material whose cost accounts for the highest percentage shall be adopted.
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