source: Economic Daily
When capital turnover faced challenges, the tax department processed three export tax rebates for CSSC Zhongnan Equipment Co., Ltd., amounting to a total of 5.89 million yuan, which arrived on April 26. Zhang Xiaoyan, an accountant at the company, expressed her excitement, noting that the company’s annual export revenue from drill collars constitutes 60% of its total sales. This sum will be utilized to pay employees' wages and purchase raw materials.
Due to the impact of the COVID-19 pandemic, foreign trade companies in the Yichang High Tech Zone (Free Trade Zone) are experiencing operational difficulties. To address these challenges, the Yichang High Tech Zone Tax Bureau has precisely implemented a “combination fist” strategy, which includes online tax law publicity, swift tax reductions and rebates, and data application. As a result, the bureau has facilitated export tax rebates of 17.15 million yuan for 25 foreign trade enterprises within the Yichang Free Trade Area. Additionally, it has offered supply chain “big data” services to 26 enterprises, aiding them in stabilizing production and overcoming their difficulties.
The tax department’s proactive measures have been instrumental in supporting these companies. By providing timely tax rebates and leveraging data to enhance supply chain efficiency, the Yichang High Tech Zone Tax Bureau has demonstrated its commitment to fostering a supportive environment for foreign trade enterprises. This initiative not only helps these companies manage their financial burdens but also promotes the overall stability and growth of the local economy.
These efforts highlight the importance of a well-coordinated approach in addressing the specific needs of foreign trade enterprises. Through a combination of tax incentives and data-driven solutions, the Yichang High Tech Zone Tax Bureau has shown how effective measures can be taken to support businesses in times of crisis. The success of these strategies is evident in the positive outcomes observed, including improved financial stability for the companies involved and a more robust supply chain network.
Looking ahead, the Yichang High Tech Zone Tax Bureau aims to continue refining its approach, ensuring that it remains responsive to the evolving needs of foreign trade enterprises. By maintaining a proactive stance and leveraging both traditional and modern tools, the bureau is committed to playing a crucial role in the sustained development and success of these companies.
