On May 4th, State Administration of Taxation Tongxiang Branch processed an export tax refund of 13,556 yuan for Tongkun Group Co., Ltd. for a shipment of polyester elastic yarn worth 15,120 US dollars. The goods had been cleared by the Jiaxing Customs in Zhapu, an office under Hangzhou Customs, and then was transferred to Ningbo port for export; which marks the first shipment in Zhenjiang province that benefited from this new policy.

Under this policy, eligible goods are considered exports once they leave the port of departure, allowing companies to apply for tax refunds immediately without having to transport their goods to the export port and complete customs clearance procedures.

Article source: Hangzhou Daily