The Dream Factory of China

Qianhai tax officials paid a visit to Heung Kong Group on April 10 to improve its service and policies that are catered to helping local enterprises better survive the coronavirus (COVID-19) pandemic.

During a meeting with the tax officials, executives with the Heung Kong Group applauded the favorable tax policies recently rolled out by the tax authority in response to the pandemic. “The company has save about 1 million yuan (US$141,900) in taxes in accordance with the tax reduction and exemption policies,” said Wu Guanghui, financial controller of the Heung Kong Group, adding that the money saved has been important to the company’s business operations, which have been affected by the COVID-19 outbreak.

According to Zhai Meiqing, president of the Heung Kong Group, its furniture business had plummeted by more than 50 percent year on year in the first quarter of this year. “The reservation rate of our hotels has also dropped significantly due to the pandemic, while some of our other businesses such as hot-spring resorts and health centers are still put on hold,” Zhai said.

Founded in 1990, Heung Kong Group has businesses in a number of sectors including financial investment, high technology, furniture, health and tourism.

Wu said the company hoped to postpone tax declarations and defer payments under the circumstances.

The tax officials told the Heung Kong executives that they could make applications online on the tax services they needed and their appeals will be followed through in a timely manner.

Chen Weizhong, director of Qianhai Tax Service, said at the meeting with Heung Kong executives that the tax authority has worked out differentiated favorable policies targeting enterprises of different scales and in different industries amid the pandemic. He said special attention has also been paid to the medium-, small- and micro-sized enterprises, which have been more vulnerable to the COVID-19 outbreak, to help them get through the pandemic.

“We will continue to work on other policies that address the actual needs of local enterprises,” said Chen.