Guangzhou Daily: Huangpu Customs launches tax deduction for foreign trade companies

Huangpu Customs announced on April 22 that it has carried out 96.4 million yuan ($13.35 million) in tax reductions or exemptions for $629 million worth of cargo in the first quarter of 2020.

Inventory management has been launched by Huangpu Customs for newly invested projects or projects expanding production capacity to support local companies resuming production due to the outbreak of the novel coronavirus (COVID-19).

"Huangpu Customs has also devoted efforts in promoting non-contact tax reduction or exemption services due to the epidemic," said a person in charge of the tariff department of Huangpu Customs.

"Huangpu Customs reached out to us, offering professional guidance through WeChat and phone calls when the list of companies able to enjoy preferential policies for new display devices was released. They also opened a green channel for us," said Hu Min, manager for the import and export business of LG Display.

"The processes for tax reimbursement of exported equipment and raw materials were handled quickly with the help of the customs, as well as the processes for guarantee verification. We have recieved a total of 16 million yuan in taxes and over 60 million yuan in cash deposits back, which greatly relieved our financial pressure," added Hu.

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