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Fuyao Glass offered 13% tax rebate on export contracts executed prior to July 1, 2007
Shanghai. February 26 (Gasgoo.com) –Fuyao Glass Group announced last week that the company enjoys a 13 percent tax rebate from export contracts that were executed prior to July 1, 2007 in line with an official notice jointly issued by Ministry of Finance, Ministry of Commerce and General Administration of Taxation.
The Shanghai-listed Fuyao Glass (600660) will enjoy a 13 percent tax rebate on a total of RMB 7.2 billion yuan ($1 billion) export contracts with companies from Brazil, United States, Russia, South Korea, Japan, Spain, India and United Kingdom.
Currently, Fuyao enjoys a 5 percent tax rebate on auto glass products exported overseas.
Fuyao Glass is China’s largest auto glass supplier. Fuyao owns 50 percent of the domestic automotive glass market. It has automotive glass plants in five major automotive industrial cities, Changchun, Chongqing, Shanghai, Guangzhou and Beijing.
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