A taxation bureau volunteer (right) answers a taxpayer's queries in Guiyang Free Trade Zone. [Photo/guiyang.gov.cn]
The Guiyang Free Trade Zone – located in Southwest China's Guizhou province – has reportedly reduced the tax burden on businesses and boosted the efficiency of tax processing.
That's since it was approved as a pilot zone for the value-added tax, or VAT, general taxpayer qualification in January 2019, according to local officials.
It's understood that the zone's tax bureau helps enterprises learn about applicable tax policies – after having divided them into different categories including processing and manufacturing, testing and repairing, as well as logistics distribution.
The tax bureau reportedly is also joining hands with the customs office to simplify the application process – helping enterprises to get the general VAT taxpayer qualification faster.
In order to provide better services, the tax bureau is organizing regular visits to companies where it sets up accounts for them to register their various requirements.
In the first half of the year, a total of 22 businesses in the zone, that applied for the general VAT taxpayer qualification, realized sales of 334 million yuan ($52.22 million), up 683.95 percent.
Thanks to the improved business climate, nine new projects were reportedly introduced to the zone in the first half.