Highlights of Hainan free trade port master plan

A staff explains to a taxpayer about a new policy on VAT reduction at a local tax bureau in Fengze district of Quanzhou, Southeast China's Fujian province, April 1, 2019. [Photo/Xinhua]

8. Taxation system

An internationally competitive taxation system will be established, which should be suitable for a high-level free trade port by sticking to the principle of zero tariffs, low tax rates, a simplified taxation system and the rule of law.