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In the export tax rebate, what does it mean that foreign exchange is written off by the foreign exchange administration department?
In the past, China's export income had to be remitted back to China. Specifically, there is a set of measures, that is, write-off of export proceeds. This is mainly because export enterprises need to obtain the verification form of export proceeds from the foreign exchange bureau before export and submit it to the customs when declaring export. After export, the foreign exchange bureau will supervise the enterprises to recover foreign exchange from China within the specified time according to the verification form issued to the enterprises.

When the foreign exchange received by the enterprise is remitted back to the domestic account, the bank will issue an export receipt certificate to the enterprise, and the enterprise will go to the foreign exchange bureau for verification with the receipt certificate, export declaration form, export verification form, commercial invoice and other materials. The foreign exchange bureau will return the special seal for verification of export proceeds stamped with the special seal for verification of export proceeds to the enterprise. This process is called "foreign exchange has been written off by the foreign exchange management department". Now this process has been very simplified. With the help of Jinguan and Jinhong projects, the whole process of verification of foreign exchange receipt can be completed without using paper documents.