Foreign exchange cost refers to the cost of how many yuan of domestic currency (RMB) an export commodity needs to exchange for one unit of foreign exchange. In other words, how many yuan of "total export cost" can be exchanged for "net income foreign exchange" of unit foreign currency. The exchange cost should be controlled between 5 and 8. If the exchange cost is higher than the bank's foreign exchange quotation, the export is a loss, and vice versa.
The foreign exchange cost reflects the profit and loss of export commodities and is an important indicator to examine whether export enterprises have economic benefits. Its measure is: the exchange rate of RMB against the US dollar. If the exchange cost is higher than the exchange rate of RMB against the US dollar, the export of this commodity is a loss. Although foreign exchange is earned, export itself has no economic benefits. The higher the exchange cost, the greater the loss. Therefore, in order to avoid losses, we must accurately calculate the foreign exchange cost.
When foreign trade enterprises declare export tax rebates, the tax rebate department will often have doubts about whether the foreign exchange cost is too high or too low after the audit system examines the export tax rebate declaration data of export enterprises. When reviewing the adjustment doubts, the tax refund personnel verify that the foreign exchange cost is higher than the reasonable upper or lower limit for various reasons, and the tax or business personnel of the export enterprise feel that the foreign exchange cost calculated by the audit system is not completely consistent with the foreign exchange cost calculated by the export enterprise itself. Therefore, before the tax refund personnel verify the exchange cost or the enterprise tax collectors cooperate with the tax refund personnel to verify the reasons of doubt, they must truly understand the relationship between the cost of goods purchased, the expenses incurred, the exchange cost of export tax refund, the exchange cost of export enterprises and the foreign exchange quotation from the financial and business perspectives. Only by understanding these basic common sense can we have a correct judgment on the doubts in various situations.