Generally speaking, in the export agency tax refund business, foreign exchange can be received either by the entrusting party (that is, your company) or by the export agency such as Zhongshitong.
If the entrusting party has the ability to receive foreign exchange and foreign exchange management is convenient, it is better for the entrusting party to receive foreign exchange on its own. In this way, the capital flow is in its own hands. At the same time, it should be noted that relevant materials for receiving foreign exchange should be provided according to the requirements of the export agency for tax refunds.
If it is inconvenient for the entrusting party to receive foreign exchange, it is also feasible for the export agency to receive foreign exchange. After the export agency receives foreign exchange, it will pay the amount after deducting agency fees and other expenses to the entrusting party according to the agreement. However, regardless of who receives foreign exchange, it is necessary to ensure that the amount and time of receiving foreign exchange meet the requirements for tax refunds. The amount of received foreign exchange should match the declared amount for customs clearance, and the time of receiving foreign exchange should also be within the prescribed period. Otherwise, it may affect the progress of tax refunds or even lead to the inability to obtain tax refunds.
The two parties can negotiate to determine which way of receiving foreign exchange to choose according to the actual situation.
Professional consultant answers
Robert ChenYears of service：6Customer Rating：5.0
Customer service consultantConsult
Generally speaking, in the export agency tax refund business, foreign exchange can be received either by the entrusting party (that is, your company) or by the export agency such as Zhongshitong.
If the entrusting party has the ability to receive foreign exchange and foreign exchange management is convenient, it is better for the entrusting party to receive foreign exchange on its own. In this way, the capital flow is in its own hands. At the same time, it should be noted that relevant materials for receiving foreign exchange should be provided according to the requirements of the export agency for tax refunds.
If it is inconvenient for the entrusting party to receive foreign exchange, it is also feasible for the export agency to receive foreign exchange. After the export agency receives foreign exchange, it will pay the amount after deducting agency fees and other expenses to the entrusting party according to the agreement. However, regardless of who receives foreign exchange, it is necessary to ensure that the amount and time of receiving foreign exchange meet the requirements for tax refunds. The amount of received foreign exchange should match the declared amount for customs clearance, and the time of receiving foreign exchange should also be within the prescribed period. Otherwise, it may affect the progress of tax refunds or even lead to the inability to obtain tax refunds.
The two parties can negotiate to determine which way of receiving foreign exchange to choose according to the actual situation.
Andrew HuangYears of service：7Customer Rating：5.0
Supply chain optimization expertConsult
Who will receive foreign exchange depends on the agreement in the contract signed between you and the export agency. Generally, this content will be clearly defined in the contract. Just execute according to the contract. If you have any questions, you can communicate with the agency again.
William YangYears of service：5Customer Rating：5.0
International logistics consultantConsult
From the perspective of operational convenience, if the export agency is experienced, it may be more smooth for the agency to receive foreign exchange. They are familiar with the process and can better handle the problems that may arise during the receipt of foreign exchange.
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
If your company has a perfect foreign exchange management system, receiving foreign exchange on its own can better monitor funds and is also more beneficial for financial accounting. You can consider it according to your own situation.
Jennifer WangYears of service：4Customer Rating：5.0
Market development consultantConsult
Different entities for receiving foreign exchange have a certain impact on the materials for tax refund declaration. Regardless of who receives foreign exchange, corresponding materials such as receipts of foreign exchange should be prepared for tax refund declaration.
Emily LiuYears of service：10Customer Rating：5.0
Settlement and payment expertConsult
If the export agency receives foreign exchange, it should be noted to choose a reliable agency. Otherwise, there may be risks to capital safety and caution should be exercised.
James LiuYears of service：10Customer Rating：5.0
Foreign trade tax refund consultantConsult
If you receive foreign exchange on your own, you should pay attention to changes in foreign exchange policies and adjust the operation of receiving foreign exchange in a timely manner to avoid affecting tax refunds due to unfamiliarity with policies.
Amanda YangYears of service：3Customer Rating：5.0
Cost control consultantConsult
From the perspective of taxation, who receives foreign exchange does not affect the essence of tax refunds, but the procedures must be compliant. Otherwise, there will be problems during tax inspections.
Elizabeth LiYears of service：3Customer Rating：5.0
Compliance and risk managerConsult
When discussing the way of receiving foreign exchange with the export agency, cost factors such as bank handling fees should also be considered and the way with lower costs should be chosen.