Taxation bureau of Guiyang FTZ introduces tax policies at Guizhou CNGR Advanced Material Co. [Photo/guiyang.gov.cn]
In order to further implement the tax preferential policies of the Western Development Strategy and effectively support businesses, the taxation bureau of Guiyang Free Trade Zone (Guiyang FTZ) has visited residential companies to introduce tax policies.
Guizhou CNGR Advanced Material Co is a company mainly engaged in international trade in Guiyang FTZ.
Its business falls under the catalogue of encouraged industries in West China, with more than 60 percent of its main business revenue contributing to the total operating income.
This makes them eligible for the tax incentives under the Western Development Strategy. In 2022, the company enjoyed a tax reduction and exemption of 760,000 yuan ($104,787.7) through this policy.
In the next step, the bureau will continue to optimize tax services, exerting continuous efforts in implementing tax and fee preferential policies. It will use multiple channels and methods to promote policies, making it more convenient and worry-free for companies to enjoy these benefits.