Preferential tax policies spur businesses in Ningxia Hui autonomous region. [Photo/IC]
Taxation authorities in Ningxia Hui autonomous region are contributing to Ningxia's export-oriented economy by implementing preferential tax policies.
In 2021, Ningxia processed 858 million yuan ($134.68 million) in export tax rebates and exemptions for 214 export enterprises; the portion for tax rebates was 620 million yuan.
In addition, the preferential tax policies have taken the export transaction volume of cross-border e-commerce enterprises in Yinchuan to 2.635 billion yuan.
To better implement the "Internet + Taxation" strategy, taxation authorities in Ningxia launched the new export tax refund management system in the country, cutting the number of declarations required to obtain a tax refund from 138 to 89. The average time to process export tax refunds has also been reduced to within 7 working days, while the paperless tax refund amount reached 91 percent.
At present, a total of 287 export enterprises in Ningxia have conducted paperless declarations, which eliminates more than 100,000 paper declaration forms every year.
"We appreciated that taxation authorities in Ningxia handled a tax rebate of 2.45 million yuan for us last year, which helped us enrich cash flow and expand production and operations," Li Hongyan, head of Ningxia Yuetai Technology Co Ltd, told a reporter.
"Last year, despite the impact of the epidemic, the company achieved a transaction volume of 50 million yuan due to the preferential tax and fee policies" said Yang Wanlong, general manager of Ningxia Weisai E-commerce Co Ltd.
