How on earth should the export tax rebate for agency sea freight be calculated? Who can explain it in detail?
Solved#Freight forwarding#
Our company has engaged an agency to handle the export tax rebate for sea freight, but we are not clear about the specific calculation method. We have heard before that the calculation of export tax rebate is quite complicated, involving many different formulas and data. For those of us who engage an agency to handle the export tax rebate for sea freight, what should we base on to calculate the tax rebate amount? Is it based on the sales amount of the goods, or the cost, or are there other standards? We hope someone can explain the specific calculation method and related key points.
Professional consultant answers
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
The calculation of the export tax rebate for agency sea freight is mainly based on the tax rebate rate of the goods and the tax calculation basis. Generally, the tax calculation basis is the FOB price (FOB) of the exported goods. The calculation formula is: Tax rebate amount = FOB price of the exported goods × foreign exchange RMB quotation × tax rebate rate. If the exported goods are consigned processing, repairing and replacing goods, the tax calculation basis is the amount indicated on the special VAT invoice for processing, repairing and replacing costs. Tax rebate amount = Amount indicated on the special VAT invoice for processing, repairing and replacing costs × Tax rebate rate of the exported goods.
In actual operation, the FOB price should be accurately determined, which requires considering the actual transaction price of the goods and the apportionment of relevant transportation, insurance and other costs. Meanwhile, different goods have different tax rebate rates, and attention should be paid in a timely manner to the information on the adjustment of the tax rebate rate released by the State Administration of Taxation. When engaging an agency, it is necessary to ensure that the agency can accurately calculate various data. Professional agency companies like Zhongshitong will operate according to the standard procedures and calculate the tax rebate amount based on accurate data.
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
The calculation of the export tax rebate also depends on the information on the customs declaration form. The amount on the customs declaration form is very crucial. The agency will generally calculate the tax rebate based on this amount combined with the tax rebate rate. However, it should be noted that the information on the customs declaration form must be accurate and error-free, otherwise it will affect the calculation of the tax rebate amount.
Jennifer WangYears of service：4Customer Rating：5.0
Market development consultantConsult
When the agency calculates the tax rebate, in addition to looking at the FOB price and the tax rebate rate, it also needs to consider the situation of the invoice. If the VAT invoice is not issued in a standard manner, problems will also occur when calculating the tax rebate amount, so enterprises should ensure that the invoice is compliant.
Robert ChenYears of service：6Customer Rating：5.0
Customer service consultantConsult
Sometimes the difference between the levy rate and the tax rebate rate will be involved, and this difference will affect the cost accounting. The agency must take this into account when calculating the tax rebate. For example, the part of the input tax amount to be transferred out must be calculated clearly, otherwise the tax rebate amount will be inaccurate.
Sarah ZhangYears of service：8Customer Rating：5.0
Document expertConsult
The data provided by the enterprise to the agency should be true and valid, such as the purchase amount of the goods, etc. The agency calculates the tax rebate based on these data. If the data is inaccurate, the calculated tax rebate amount will surely be incorrect.
Emily LiuYears of service：10Customer Rating：5.0
Settlement and payment expertConsult
When the agency calculates the tax rebate, it should pay attention to the declaration deadline and declare the tax rebate within the prescribed time. If it exceeds the time limit, it may affect the calculation of the tax rebate and the subsequent handling, and may even be unable to obtain the tax rebate.
Andrew HuangYears of service：7Customer Rating：5.0
Supply chain optimization expertConsult
The fluctuation of the exchange rate also has an impact on the calculation of the export tax rebate. The agency should convert according to the appropriate exchange rate, and generally adopts the central parity of the exchange rate on the day of customs declaration for export.
Amanda YangYears of service：3Customer Rating：5.0
Cost control consultantConsult
For some special goods, there may be special regulations on the calculation of the tax rebate. The agency should be familiar with these regulations, and the enterprise should also understand them, otherwise it is easy to make mistakes in calculating the tax rebate.
Joseph ZhouYears of service：10Customer Rating：5.0
Senior foreign trade managerConsult
When the agency calculates the tax rebate, it will involve some record-keeping documents. These documents should be complete and compliant, which will play an auxiliary role in accurately calculating the tax rebate amount.
William YangYears of service：5Customer Rating：5.0
International logistics consultantConsult
The agency also needs to consider the trade mode. Different trade modes may have differences in the calculation of the tax rebate. For example, general trade and processing with imported materials are quite different.