FTP policies help Sanya build deep-sea innovation highland

Sanya Customs is promoting the Sanya Free Trade Port's preferential "zero tariff" and tax reduction policies to science institutions and schools.

Sanya Customs recently handled the tax exemption verification and confirmation procedures for the Institute of Deep Sea Science and Engineering of the Chinese Academy of Sciences. In just a few minutes, the institute obtained the electronic "notice of confirmation for tax exemption".

Since the beginning of this year, Sanya Customs has supervised the delivery of zero-tariff production equipment worth 284 million yuan ($40 million), and reduced their taxation by 38.78 million yuan. Among them, scientific research equipment, such as X-ray diffractometers and advanced microscopes, received tax exemptions totaling 3.18 million yuan.

The scientific and education tax reduction and exemption policy was implemented to support scientific research institutions and schools in importing technology and teaching supplies that cannot be produced domestically or whose performance cannot meet the demand. In addition, the "zero tariff" production equipment policy is unique to the Hainan Free Trade Port.

In order to further enable enterprises to make good use of these policies, Sanya Customs has opened a specialized service window for "zero tariff" affairs, which provides guidance on product classification for imported related equipment.

Wang Ying, an official of Sanya Customs, introduced that Sanya Customs has formed a professional team that will guide eligible institutions, schools and enterprises to make full use of the preferential "zero tariff" and tax reduction policies.

The Hainan Deep-Sea Technology Innovation Center in Yazhou Bay Science and Technology City. [Photo/Sanya Daily]