The Impact Of Export Tax Rebate Rate Changes On The Profitability Of Textile Export Enterprises

China’s general tax policy is the export tax rebate policy,which is also an effective link to enhance the rapid development of export trade.It is the refund of product tax,value-added tax,enterprise tax and special consumption tax actually paid during the circulation of domestic production and export goods.The export tax reduction policy focuses on avoiding double taxation in international trade,improving the level of competition of domestic products in the international market,developing export trade,and increasing export revenue.Since the implementation of the export tax reduction policy in 1985,it has played an important role in the development of my country’s foreign trade.Therefore,the fluctuation of the export tax reduction ratio will have a significant impact on the export volume,export income and cash flow of the enterprise.An effective detection indicator of corporate finance is the proportion of corporate profits.The level of profitability of an enterprise will directly reflect the strengths and weaknesses of its export trade efficiency,which in turn will determine whether the enterprise can occupy a favorable position in the fierce war in the international market.According to the actual situation in China,from the micro level,the enterprise profitability determines the structural upgrading and reform of the enterprise’s export products;from the macro level,it is related to whether China can become a trade power in the international market.In the industrial field,the global development process for many years,the textile as its core industry has been flourishing,leading the way of social production.At the same time,the length and breadth of the industrial chain of the textile industry is very much involved,and there is a strong correlation between industries,and the textile industry has a pivotal position in the national economy.This paper firstly analyzes the influence mechanism of export tax rebate policy on enterprises in export trade from the theoretical aspect,and then constructs the econometric analysis model of this paper by combining the fluctuation of export tax rebate rate and its related data of China’s textile and garment industry in the past years.610 Chinese textile enterprises are selected as the sample in this paper,and the research time period is from 2004 to 2019,and the multiple linear regression method is used to more accurately and intuitively the impact of the fluctuation of the export tax rebate rate policy on China’s textile and apparel export trade is examined in the export trade.Through theoretical discussion and empirical analysis,the following conclusions are obtained:(1)Although the increase in export tax rebate rate will have a favorable impact on the development of enterprise exports,the impact on the profitability of export costs in the textile industry is limited,mainly because the impact of exchange rate fluctuations on export trade is also extremely sensitive,so the "two rates" are complementary to each other and inseparable.Therefore,the "two rates"complement each other and are inseparable.(2)For different trade modes and different enterprise nature,the same export tax rebate rate will have different degrees of impact,so simply rely on adjusting the export tax rebate rate to reduce the trade surplus is not desirable.In summary,after summarizing the relevant findings of the empirical test,this paper puts forward suggestions for modification and improvement,which provides a reference idea for the reform and development of export tax rebate policy in the textile industry reform.