On June 3, 2009, the Chinese State Ministry of Finance and State Ministry of Taxation announced that as of June 1, 2009, the tax rebate rate for exports of medical dressing and related products would be increased by 2 percent. As a leading exporter of medical dressing products in China, Winner Medical Group Inc will greatly benefit from this policy to reduce its cost and increase its profit.
This Government action would support the medical dressing industry in China, reduce the exporters' cost, and increase their price competitiveness in the global market. It is also a national plan that the Government will allocate funds to support the exporters to upgrade technology and develop domestic brands.
During the first six months of fiscal year 2009, approximately 86% of the Company's revenue was attributed to export sales. Effective from June 1, 2009, the tax rebate rate for exports of all the Company's medical dressing products, and also some types of medical equipment will increase from 13% to 15%; the tax rebate rate for exports of the Company's plastic and glass products will increase from 11% to 13%.
This Government action would support the medical dressing industry in China, reduce the exporters' cost, and increase their price competitiveness in the global market. It is also a national plan that the Government will allocate funds to support the exporters to upgrade technology and develop domestic brands.
During the first six months of fiscal year 2009, approximately 86% of the Company's revenue was attributed to export sales. Effective from June 1, 2009, the tax rebate rate for exports of all the Company's medical dressing products, and also some types of medical equipment will increase from 13% to 15%; the tax rebate rate for exports of the Company's plastic and glass products will increase from 11% to 13%.
