Beijing Customs' preferential import tax policies prove a success

0 Comment(s)Print E-mail, May 22, 2020
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From January to April this year, Beijing Customs reviewed $3.7 billion of duty-free and tax-reduced goods, cut tax by 1.8 billion yuan, an increase of 129% and 43% respectively compared with the same period last year. Both figures ranked top of the national customs listing, according to Beijing Customs on May 21.

Since the outbreak of the COVID-19 epidemic, Beijing Customs has deployed several innovative policies including online booking, the handling of documents via mail and paperless reviewing. The new policies enabled companies applying for tax reductions and exemptions to conveniently benefit from the country's tax policies.

The reduction of import tax eased the burden on enterprises and institutions. This also helped promote industrial transformation and the stable development of the economy. 

In order to better support enterprises to resume work and production, Beijing Customs launched a number of relevant facilitation measures.

At the beginning of the outbreak, personal protective equipment and other resources were scarce and a large number of donated materials needed to be imported. Therefore, the General Administration of Customs of China (GACC) quickly issued new formalities for importing donated supplies. In response, Beijing Customs issued a series of documents and publicity materials to speed up clearance. 

In addition to policy support, it also improved its services by publishing the telephone numbers of section chiefs of different departments including customs clearance, tax reduction, tax refund and others. Beijing Customs also took the initiative to collect a list of companies importing epidemic control materials organized by the Beijing Municipal Health Commission and social organizations receiving donations from overseas.

By the end of April, Beijing Customs had registered and released more than 1,000 batches of epidemic control materials. It also handled the examination and confirmation procedures of tax exempt anti-epidemic materials valued at more than $36.71 million. This totaled a tax cut of 109 million yuan.

As for the next step, an official from Beijing Customs said it would develop more facilitation measures and continue to improve its customs service, so as to ensure its policies benefit the majority of market players.

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