Guangdong Govt. Issues New Notice on Cross-Border Trade

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Aug. 5 – The Guangdong provincial government recently issued a notice regarding the assessment of enterprises which engage in cross border trade and settle in RMB, and the relating issues on export tax rebate.

Guoshuihan [2010] No. 303, issued on July 27, stipulates that all levels of local taxation bureaus should complete the assessment forms and submit them to provincial level tax authorities.

The main purpose of the notice is to speed up the procedure of tax rebate, and to prevent tax deception.

The notice also stipulates that every month, all levels of local taxation bureaus should submit the written materials to the provincial tax authority three days prior to the next month, including the evaluation report and suggestions.