The Dream Factory of China

Source :Qianhai Communication Center

“It is now very convenient for Qianhai-based enterprises like us to apply for the preferential corporate tax rate,” said Ms. Chen, after submitting her company’s application online July 24. She is responsible for the tax-related affairs of Shenzhen Fudao Information Technology Co., Ltd.

The Qianhai Tax Service has recently introduced a new service based on blockchain technology that allows taxpayers in the free trade area to apply for the preferential corporate tax rate online, instead of having to go to the service hall of the tax agency to submit an application.

According to the relevant policies by the Qianhai Cooperation Zone Authority, Qianhai-registered enterprises engaging in the industries encouraged by the free trade area authority are eligible for a favorable corporate tax rate of 15 percent.

“It has saved us a lot of time,” Chen said of the new service, which is part of Qianhai’s efforts to create a business-friendly tax environment.

In January, the Qianhai Tax Service put online a blockchain-based tax service platform for paperless handling of tax affairs in Qianhai.

A staffer surnamed Li who works with the Shenzhen Guoxin Artificial Intelligence Co., Ltd. also spoke highly of the new service.

“When I applied for the preferential tax rate last year, I had to complete a lot of paperwork and go to the service hall to hand in the application materials. Now, I am able to finish all the application procedures online. It has been really time-saving and convenient,” she said.

Over the past three years, the Qianhai authority has exempted 5.65 billion yuan (US$807 million) for enterprises that are qualified for the preferential corporate income tax rate policy, official statistics showed.