The Wuhan Economic & Technological Development Zone (WHDZ) -- located in Wuhan, capital of Central China’s Hubei province -- recently launched measures to boost the resumption of work and production, including tax and fee cuts, including WeChat officials.
They said that in the first half of 2020, the tax authorities in Wuhan reduced taxes and fees by 4.184 billion yuan ($602 million) for resident companies in the development zone.
Officials said that currently, most of the 483 resident manufacturers above a designated size -- those with annual revenue of 20 million yuan or more -- have restarted work and operations. These include 215 automobile and parts manufacturing enterprises, which have achieved a resumption rate of 100 percent.
To help with the return to work through tax big data, the Wuhan taxation departments contacted 107 businesses in Hubei province and 1,229 companies outside the province -- that have made purchases or have sales needs. This was to help solve such problems of a shortage of raw materials and unsalable goods at WHDZ auto companies.
Officials said the WHDZ tax bureau actively carried out zero-contact export tax refund management services. It also continued to reduce the export tax refund processing time to 2.43 working days, which they said was much lower than the six working days required, to optimize the business environment.
Elsewhere, fast track channels were opened and one-stop services were implemented, with audits completed within 1.5 days.
Officials said that in the first half of 2020 the auto industry in the WHDZ exported products worth $180 million. The audited tax rebate was 140 million yuan, and the tax refund was 110 million yuan.
