Export tax refund management

The problem

Export tax refunds are an important source of cash for trading companies, but the traditional process leans heavily on manual work:

• customs declarations, input invoices and foreign exchange receipts sit with customs, procurement and finance respectively, and completeness is checked one document at a time;
• when several invoices relate to one declaration, apportionment is done in spreadsheets and errors creep in;
• nobody tracks refund progress after filing, and finance then posts the receipt by hand;
• missing documents are discovered only as the filing deadline nears, and the refund becomes a loss.

How Tranexio handles it

In the current release Tranexio closes the refund loop under the VAT exempt-and-refund method (免退税) for foreign trade companies. For export transactions under the general trade or processing trade supervision mode, refund handling is switched on by rule – no manual toggle required.

1. Capture: customs declarations are written back from the customs module, special VAT input invoices enter the input invoice pool, and foreign exchange receipts come from receipt documents.
2. Match: documents are gathered per export transaction; gaps are flagged as “to be supplied” and the responsible role is notified.
3. Calculate: refundable amount = input tax base × export refund rate; the difference between levy and refund rates is charged to cost automatically.
4. Reconcile: customs, invoice and foreign exchange receipt data are compared three ways, producing a variance list and an analysis of the cost of foreign exchange earned.
5. File and track: filing data is generated, connection to the electronic tax bureau is supported via the integration hub, and review, treasury release and receipt are tracked.
6. Post: once the refund arrives, it is pushed to finance to generate the journal entry, and the refund ledger and dashboard update in step.

Key controls

The exempt-offset-refund method for manufacturers is on the roadmap.