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Sanya tax reductions hit $340m in Q1-3

Print english.sanya.gov.cn Updated: 2020-11-18

The city of Sanya has further eased the burdens on enterprises as it has carried out tax reductions of 2.24 billion yuan ($340 million) in the first three quarters of 2020, according to the Sanya municipal tax service.

The tax and fee reductions that came from preferential policies introduced this year amounted to 1.9 billion yuan, while the amount of tax reductions due to previous policies introduced in the middle of 2019 was 313 million yuan.

Since the beginning of this year, the Sanya municipal tax service has strived to ensure tax reduction policies are implemented smoothly. It worked to promote preferential tax policies through multiple channels, improve taxation services, carry out targeted analysis of the impact of current work, improve the online taxation system, establish a data ledger, and strengthen supervision.

To minimize the financial pressure on small- and medium-sized enterprises (SMEs) during the COVID-19 pandemic, it further simplified the application materials for deferred tax payments.

This year, 1.29 million tax-related services have been offered through the online electronic tax platform, accounting for 84.51 percent of all tax services. In addition, more than 1.18 million tax declarations were made online, accounting for 98.56 percent of the total.

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