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    Hainan tax and fee cuts exceed $2.36 billion in Q1-3

    ehainan.gov.cn | Updated: 2020-11-12

    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.



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