Zero-tariff policy for imported vehicles in Hainan sees increasing tax exemption

Source: Belt and Road Portal

Aerial photo taken on May 4, 2021 shows the city view in Haikou, capital of south China's Hainan Province. (Xinhua/Zhang Liyun) 

Statistics from Haikou Customs showed since implementation, the zero-tariff policy for imported vehicles in Hainan Free Trade Port(FTP) had reduced a total of 10.1859 million yuan tax for enterprises by June 22, reported Chinanews.com Thursday.

It is learned Haikou Port is the only one for automobiles import in Hainan province. According to a person in charge of Haikou Customs, since the policy taking effect, the number of imported vehicles for operation and leasing has seen significant increase.

Taking a parallel-imported 7-seat Alpha Hybrid as an example, the zero-tariff policy helped us save taxes payment by about 43 percent, said Wang Sishi, head of a local vehicle company, pointing that favorable customs clearance measures and good business environment have given enterprises convenience to expand their business.

In order to further promote the quality and efficiency of customs procedure, Haikou Customs has established a service mechanism to respond to the zero tariff issue of concern to enterprises in a timely manner, and set up a green channel to shorten the business processing time.