The U.S. Customs and Border Protection tariff refund system was officially launched on April 20. This is the largest tariff refund operation in U.S. history, totaling approximately US$166 billion, and was refunded to 330,000 importers across the United States.
Which companies can apply?
How to apply?
Let’s find out.
After the U.S. tariff refund system was launched, many foreign trade companies exporting to the U.S. immediately contacted U.S. cooperative importers to find out the tax refund details and declaration requirements.
This Hangzhou company has been exporting swimming pool cleaning robots to the United States for a long time. Some of the orders that are subject to high tariffs have not yet been cleared and are eligible for this tax refund application.
Currently, the company is preparing a complete set of declaration materials such as tax bills and negotiating tax refunds with U.S. importers.
Peng Fei, foreign trade manager of Hangzhou Bulan Innovation Technology Co., Ltd., said: “I estimate that the process should take two months, at least two months. Getting half of the refund should be considered good news.”
According to the latest U.S. policy, the subjects applying for tariff refunds are limited to registered importers who have completed the filing with the U.S. Customs.
For Chinese export companies, companies that set up subsidiaries in the United States to declare customs independently and sign DDP trade terms with customers, declare customs and pay taxes, can directly register as importers to enjoy tax rebates.
Zhejiang’s advantageous export industries to the United States are concentrated in the fields of home furnishing, textiles, auto parts, etc. Most companies have long relied on local American importers to carry out trade cooperation.
– Between 80% and 80%, export companies recommend that they proactively contact U.S. buyers or customs clearance partners to sign a tax rebate equity transfer sharing agreement, clearly agreeing on the distribution ratio and payment time limit after the tax rebate is received.
Experts analyze that the implementation of tariff rebates will effectively improve the cash flow situation of U.S. importers and increase their willingness to purchase from China.
Zhejiang companies can take this opportunity to negotiate with U.S. customers to optimize payment cycles and adjust trade settlement methods.
This tax rebate policy is undoubtedly an important opportunity for Zhejiang’s foreign trade companies.
Enterprises should take active action, fully understand the details of the tax refund policy, and communicate and negotiate effectively with US importers to strive for maximum benefits.
At the same time, by optimizing the payment cycle and trade settlement methods, we will further strengthen the cooperative relationship with American customers, enhance the competitiveness of the company, and gain greater development space in the international market.
