Can I get a tax refund for RMB settlement? How can I get a tax refund?

In international trade, foreign exchange settlement refers to the process of converting foreign exchange into the currency of the country. For RMB foreign exchange settlement, many people may wonder whether they can get a tax refund in this way. So, can RMB foreign exchange settlement be refunded?

1. Can I get a tax refund if I convert RMB into RMB?

According to relevant Chinese laws and policies, RMB settlement is generally not tax-refundable. Tax refunds are usually applicable to the export of goods or provision of services, but not to individual settlements. Therefore, if you are an individual who settles RMB, unfortunately, you cannot enjoy the tax refund policy. Tax refunds are usually for companies that export goods or provide services to promote the balance of international trade and foreign exchange flows.

2. How to get a tax refund?

Although RMB settlement is not eligible for tax refund, eligible enterprises and individuals can enjoy tax refund policies in other ways. The following are some common tax refund methods:

1. Export tax rebate: Enterprises that export goods or provide services can apply for export tax rebate. This requires the enterprise to submit a tax rebate application in accordance with relevant regulations, provide relevant export certificates and purchase and sales contracts and other documents, and after review, the corresponding tax rebate amount can be obtained.

2. Tax refund for departing passengers: For individuals who purchase tax-free goods before leaving the country, they can apply for tax refund for departing passengers. Before leaving the country, customers need to present their shopping receipts and passports and other documents at the designated tax refund office to apply for tax refund, and then they can get a refund of part of the consumption tax.

3. Cross-border e-commerce tax refund: For individuals who purchase imported goods on cross-border e-commerce platforms, they can obtain tax refunds through the cross-border e-commerce tax refund policy. When purchasing, customers need to ensure that they choose eligible products and submit a tax refund application through the e-commerce platform, and then they can obtain the corresponding tax refund amount.

4. Other special tax refund policies: According to the policies and regulations of different regions and industries, there may be other special tax refund policies. For example, for certain technology research and development, innovative industries or key areas of enterprises, they may be able to enjoy tax incentives and tax refund policies. In this case, enterprises need to submit applications according to relevant requirements to obtain corresponding tax refund treatment.

In summary, RMB settlement generally does not enjoy tax refund policies. Tax refunds are usually applicable to companies that export goods or provide services to promote international trade and foreign exchange flows. However, for eligible companies and individuals, there are still other tax refund methods, such as export tax refunds, passenger departure tax refunds, cross-border e-commerce tax refunds, etc.

Recommended reading:

Is there a limit on the amount of foreign exchange that companies can settle? How can I increase the limit?

What documents are needed for a company to settle foreign exchange? How long does it take for a company to settle foreign exchange?

Which exchange rate should enterprises use to settle foreign exchange? What is going on?