Introduction
Borrowers entrust Bank of China with the special account for export tax rebate, and undertake to take the tax refund as payment guarantee so as to obtain trade finance such as short-term finance or L/C.
Functions
To support the export enterprises to expand export markets, solve the shortage of short-term working capital, help the enterprises enjoy the preferential policies on export tax rebate in advance, speed up capital turnover, and improve operational efficiency.
Target Customers
Enterprises with self-operation export and import rights approved by relevant authorities.
Process
4.1 Application Documents
While applying for finance pledged by custody account of export tax rebate, in addition to materials related to requirements of trade finance credit extension, enterprises should also provide the following materials:
(1) Borrower's materials. The borrower should provide resolution of board of shareholders, resolution of board of directors or other legal statements according to articles of association, in order to entrust the special account of export tax rebate to Bank of China and provide the tax rebate as guarantee for repayment.
(2) Authentication materials (copy) of trade business, including the customs declaration of export goods (export tax rebate receipt), special invoice of value-added tax, cancelation-after-verification form on foreign exchange payment, and so on.
(3) Materials proving the applicability of tax rebate from the State Administration of Taxation, or economic and trade authorities concerned.
(4) Other related materials.
4.2 Granting of Finance
(1) Upon approval of credit extension, the enterprise should sign with Bank of China the Contract of Finance Pledged by Custody Account of Export Tax Rebate and the Pledge Agreement on Custody Account of Export Tax Rebate. The Pledge Agreement on Custody Account of Export Tax Rebate should specify that the borrower entrusts the special account of export tax rebate to Bank of China, and promises to take the tax rebate in the account as repayment guarantee.
(2) Before granting the loan pledged by custody account of export tax rebate, the customer must open a special account of export tax rebate with Bank of China to ensure that taxes can only be refunded to that account.
Our Advantages
Bank of China boasts professional advantages in foreign exchange management, customs and taxation policies, and is able to help the enterprises to ease the financial difficulties, accelerate capital turnover and improve efficiency of capital utilization through national preferential policies.
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