China's island province Hainan cut 15.67 billion yuan ($2.36 billion) in taxes and fees in the first three quarters of 2020, with new preferential tax policies launched this year contributing to 73 percent of the reductions.
The Hainan Provincial Tax Service of the State Taxation Administration has been implementing various preferential tax and fee reduction policies that were launched in 2019 and newly introduced in 2020. It has also carried out measures like strengthening consultations and training for enterprises, simplifying tax processing, as well as improving online taxation services to ensure tax and fee reductions directly benefit enterprises and people.
It has also established an inter-department system of cooperation with the Hainan provincial departments of finance, tourism, and culture to carry out tax and fee reduction policies.
South China's Hainan province issued an announcement on July 31 that details the preferential policies regarding corp...
A day before the Singles Day shopping spree on Nov 11, Hainan duty-free shops launched various promotions to draw mor...
Chinese authorities have rolled out preferential income tax plans for companies and individuals in the southern islan...
Overview
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