Under the economic background of globalization, the stone foreign trade industry, as an important part of international trade, is ushering in unprecedented development opportunities. However, complex tax policies and regulations have also left many businesses confused. As a professional stone foreign trade company, we are well aware of the importance of tax compliance for business development. This article will give you a detailed analysis of the relevant tax policies of the stone foreign trade industry to help enterprises better understand the tax rules, comply with the business and enjoy tax incentives.

The main tax of stone trade industry

Stone foreign trade enterprises in the business process, mainly involved in the following types of taxes:

1. Value-added Tax

Value-added tax is one of the most important taxes of stone foreign trade enterprises. In China, stone exports enjoy value-added tax "exemption, credit, refund" policy, that is, stone exports are exempt from value-added tax, and can refund the value-added tax paid in the production link. This policy aims to encourage exports and enhance the competitiveness of domestic stone products in the international market.

Exemption: Export stone is exempt from VAT.

Credit: An enterprise may use the input tax on export goods to offset the tax payable on domestic goods.

Refund: The undeducted input tax can be refunded.

2. Tariffs

A tariff is a tax imposed by the importing country on imported stone. Different countries have different tariff policies on stone. In order to protect their domestic stone industry, some countries will impose higher tariffs on imported stone. Some countries may reduce or eliminate tariffs to boost trade. Stone foreign trade enterprises need to understand the tariff policy of the target market in advance and rationally plan the import and export business.

3. Corporate income tax

The profits of stone foreign trade enterprises shall be subject to enterprise income tax. In China, the corporate income tax rate is 25%, but qualified high-tech enterprises and small, low-profit enterprises can enjoy preferential tax rates. In addition, the income tax paid by enterprises abroad can be offset against the domestic tax payable within a certain range to avoid double taxation.

4. Consumption Tax

Some countries levy excise taxes on certain stone products (such as high-grade marble). When exporting stone, enterprises need to understand the consumption tax policy of the target market to avoid additional cost burdens.

Preferential tax policies for stone foreign trade enterprises

In order to support the development of foreign trade enterprises, governments have introduced a series of preferential tax policies. The following are the main tax incentives that Chinese stone foreign trade enterprises can enjoy:

1. Export tax rebate policy

China implements a tax policy of "exemption, credit and refund" for stone exports, and enterprises can apply for a refund of the value-added tax paid in the production link. The tax rebate rate is usually between 5% and 13%. Enterprises need to declare export tax rebates in a timely manner to ease financial pressure.

2. Tax incentives for cross-border e-commerce

For enterprises that export stone through cross-border e-commerce platforms, they can enjoy simplified customs declaration processes and tax incentives. For example, cross-border e-commerce retail export goods can be exempted from value-added tax and consumption tax.

3. Tax incentives for high-tech enterprises

If the stone foreign trade enterprise is identified as a high-tech enterprise, it can enjoy a preferential corporate income tax rate of 15%. In addition, high-tech enterprises can also enjoy research and development expenses and other policies.

4. Regional tax incentives

China has implemented preferential tax policies in some pilot free trade zones, comprehensive bonded zones and other special economic areas. For example, enterprises in the zone can enjoy duty-free policies such as import equipment and export goods. Stone foreign trade enterprises can consider setting up branches in these areas to reduce the tax burden.

How do stone foreign trade enterprises operate in compliance?

1. Standardize financial management and bill management

Enterprises need to establish a sound financial system to ensure that every transaction has legal bills and vouchers. Especially in the export tax refund declaration, it is necessary to provide a complete VAT special invoice, export declaration and other information.

2. Make proper use of preferential tax policies

Enterprises should actively apply for preferential tax policies that meet their own conditions, such as export tax rebates and high-tech enterprise recognition. At the same time, the tax burden can be reduced through reasonable tax planning. For example, moving part of the business to tax-advantageous areas or exporting goods through cross-border e-commerce platforms. Stone foreign trade enterprises need to pay close attention to the tax policy changes in the target market and adjust their business strategies in a timely manner. 

Tax risks and prevention of stone foreign trade industry

1. Tariff risk

Because tariff policies vary widely in different countries, companies may face additional tax burdens because they do not understand the tariff rules of the target market. It is recommended that enterprises consult professional customs agents or tax advisers before exporting to ensure compliance with customs clearance.

2. Cross-border tax risks

When stone foreign trade enterprises do business overseas, they may face double taxation or tax disputes. Enterprises can reduce cross-border tax risks by signing bilateral tax treaties and applying for tax credits.

Conclusion:

Tax compliance is the basis for the steady operation of stone foreign trade enterprises, and it is also the premise for enterprises to enjoy policy dividends. Through in-depth understanding of tax policies, rational use of tax incentives, strengthen tax management, stone foreign trade enterprises can not only reduce the tax burden, but also enhance their international competitiveness. As a professional stone foreign trade company, we will continue to provide customers with high-quality tax advice and services to help enterprises stand out in the global market.

Jessie

Fortune East