How to handle tax refunds for agency exports and what are the key points to note?
Resolved
My company exports through an agent, and now we want to handle tax refunds ourselves. I don't know how to operate specifically. I heard the process is quite complicated, requires a lot of documents, and there are some regulations to follow. I'd like to ask everyone, how can agency exports handle their own tax refunds? What conditions need to be met, what documents need to be prepared, and what is the process? I hope experienced friends can explain in detail. Thank you.
Trade Expert Insights Answers
If you want to switch from agency export to self-tax refund, you must first ensure that the enterprise has general taxpayer qualification, because small-scale taxpayers implement a tax exemption policy and cannot refund taxes themselves. Secondly, the enterprise must have import-export operation rights and complete the export tax refund (exemption) filing.
In terms of the operating procedure, after the goods are exported, you need to promptly collect export customs declaration forms, VAT special invoices, and other tax refund documents. Enter these documents into the export tax refund declaration system, generate declaration data, and conduct a preliminary declaration to the competent tax authority to check if the data is accurate. After the preliminary declaration is approved, then proceed with the formal declaration.
Regarding documents, in addition to the customs declaration forms and invoices mentioned above, export contracts, packing lists, etc., may also be required. Prepare them according to the requirements of the local tax authorities. The tax refund process involves policies, regulations, and specific operational details. It is recommended to study relevant policies and consult the local tax department to ensure the smooth progress of tax refund work.
Pay attention to the timing of self-tax refunds, for example, the tax refund must be declared within 90 days of the export date, otherwise it may not be possible to get a refund. Also, there are regulations on the time for invoice verification, which must be completed within the prescribed period.
Ensure the accuracy of the customs declaration form information, such as the product name, quantity, amount, etc., cannot be wrong, otherwise it will affect the tax refund. The organization of documents should be standardized, otherwise the tax authority may not approve the review.
The enterprise's financial accounting must be sound and able to accurately account for the cost, revenue, etc. of import and export business. Otherwise, it will be difficult for the tax authorities to determine the tax refund amount.
You can pay more attention to the official website of the tax authority. Tax refund policies are sometimes adjusted, and timely understanding of new policies is helpful for smooth tax refunds.
You must be proficient in operating the tax refund declaration system, otherwise errors in data entry will also be troublesome. You can attend some training courses to learn how to use it.
Communicate well with relevant parties such as freight forwarders to ensure that information related to cargo export is transmitted promptly and accurately, which is crucial for preparing tax refund documents.
After receiving the tax refund, you should also properly handle the accounting, in compliance with financial regulations and tax requirements.
If you have always exported through an agent, it is recommended to have professional financial personnel to guide you through the first self-tax refund to avoid errors.