Tax, fee reduction policy benefits more OVC SMEs

The taxation windows of the valleys government service center. [Photo/WeChat account of Optics Valley of China]

"It's amazing to be able to finish all tax refund procedures with just a few clicks of a mouse. I no longer need to run from one government service window to another, and the fund was returned to the company's in a timely manner," said Ning Qianqian, an accountant of a technology company based in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC), who was surprised by the convenient tax refund process.

The term of validity of the tax and fee exemption and reduction policy that involves six local taxes and two fees was extended to the end of 2024, and about 32,000 small and medium-sized enterprise (SMEs) in the valley will benefit from the move.

To accelerate the tax refund process for taxpayers who have already paid taxes before the issuing of the new policy, the valley has adopted an application-free tax refund method that allows taxpayers to confirm relevant information at online taxation platforms without submitting any files. The process also doesn't require the physical presence of legal persons.

In addition, taxation departments in the valley also use big data technology to form a list of enterprises that qualify for a tax refund, and educate them on the policy via visits, videos and online assistance.

"The taxation officials contacted us as soon as the new policy was rolled out and guided us through the tax refund procedures. The strong support has boosted our confidence in our future prospects," said a finance staff member of a local technology service startup.