In the first three quarters of 2021, the Guzhen Branch of the Zhongshan Taxation Bureau handled 212 million yuan of export tax refunds and exemptions for 1,232 export enterprises, helping Guzhen's lighting industry reach global markets.
"In the first three quarters, our company's export tax refund reached 1.55 million yuan, and paperless customs declaration has been really advantageous for us," said Chen Rong, head of Zhongshan City Xinjie Lighting Electric Appliance Co Ltd, adding that preferential tax policies such as the export tax rebate and the Bank-Tax Interaction program have helped the company a lot in revitalizing its cash flow.
"In 2020, our company was rated as Grade A in tax-paying credit. Thanks to 'Bank-Tax Interaction', we obtained over 4 million yuan in mortgage-free low-interest loans, which were directly used for the procurement of raw materials. It enabled us to actively respond to market changes like the rising prices of raw material," Chen Rong said.
In addition to the direct financial support of policy incentives, tax authorities continue to improve the quality and efficiency of tax services, shorten examination and approval times, further reducing administrative costs for enterprises. At present, except for four types of enterprises, the Guzhen Branch of the Zhongshan Taxation Bureau has implemented paperless tax refund management for all enterprises that have filed export tax refunds and completed the first export tax refunds.