Local tax bureau ups efforts to ease firms' burdens
Local tax authorities are sparing no effort in aiding recovery at enterprises this year, as China forges ahead on a steady growth track.
Several local tax authorities are launching special tax incentives; for instance, the tax bureau in Xinghua, a county-level city in Taizhou, Jiangsu province, has set up a special channel — among other favorable taxation policies — targeted at companies to help them trace difficulties with regard to paying taxes and find solutions.
Jiangsu Xingyu Outdoor Leisure Products Co Ltd, which exports sports gear to overseas markets such as the United States, Russia and Denmark, is a local enterprise that has received help from the local tax bureau.
In the past few years, amid rising material costs and the COVID-19 pandemic, the company faced difficulties in exploring overseas market opportunities and in product innovation.
Realizing that the company qualified for tax refunds, the Xinghua tax bureau notified it to prepare the necessary material for declaring such refunds, and provided precise on-site services, with a focus on giving guidance to impoverished employees and self-employed retired soldiers.
So far, it has helped the enterprise successfully apply for export tax exemptions worth 1.7 million yuan ($238,000), as well as discounts worth 80,000 yuan.
Zong Fang, who is in charge of the accounting department of Jiangsu Xingyu, said: "Offering tax incentives to specially recruited personnel is truly beneficial for labor-intensive enterprises like us.
"Staff members from Xinghua Bureau in Jiangsu Provincial Tax Service helped us to promptly sort out the applicable preferential policies, and provided guidance on the tax refund operation process. The tax refund was received on the same day of application, greatly ensuring turnover of funds and enhancing our confidence to further explore overseas markets."
Hong Yong, an associate research fellow at the e-commerce research department of the Ministry of Commerce, said favorable policies help export firms raise competitiveness and operational efficiency, and reduce costs. "In addition, enterprises' confidence and development motivation are enhanced," Hong said.
Chen Zhenhui, senior partner of Jingsh Law Firm, said, "The policies help the taxation department strengthen the agglomeration effect of export enterprises within the region, promoting the recovery of trade."
Zou Chengping, who also works at the Xinghua tax bureau, said it will make full use of online channels to increase awareness about its export tax refund policies.
The bureau will also provide "one-on-one" precise guidance to enterprises, and quickly solve their problems, so as to help export firms better compete with global players.
First, please LoginComment After ~