The first algorithm

Current tax refund = FOB price of export goods × RMB foreign exchange quotation × tax refund rate

The second algorithm

The other is: tax refund income = purchase cost ÷( 1+ VAT rate) × export tax rebate rate.

Extended data

Calculation case of tax refund income

For example, Company A, a Sino-foreign joint venture, uses agricultural products as raw materials to produce industrial products for export. In 1999, it exported 200 million yuan on its own, which can be deducted from the input tax.150,000 yuan. The company's self-operated export is subject to the tax rate of 17% and the tax refund rate of 13%.

The annual VAT payable is: 20,000×17%-1500 =190,000 yuan, and the export VAT should be refunded: 20,000×13% = 26 million yuan. The tax authorities can levy value-added tax of190,000 yuan, and the tax refund authorities should refund 26 million yuan. After tax refund deduction, the enterprise can actually get a tax subsidy of 7 million yuan.

Baidu encyclopedia-tax refund income