SHENZHEN Customs granted 640 million yuan (US$90.43 million) of tax relief to enterprises in the first five months of this year, an increase of 41.7 percent year on year, Shenzhen Special Zone Daily reported yesterday.

Industries that benefit the most from the tax exemptions and reductions are mainly related to the production of new-type displays and devices, scientific and technological innovation, higher education, agriculture, forestry, animal husbandry and fishery.

During the COVID-19 epidemic, in order to facilitate enterprises to apply for tax reduction and exemption, Shenzhen Customs launched a number of activities through video conference to explain and publicize relevant policies and made public a hotline for service consultation.

Since the beginning of this year, customs has accepted and reviewed four major projects, driving investment totaling 41 billion yuan, according to the Daily.

TCL China Star Optoelectronics Technology Co. Ltd., for instance, enjoyed tax reductions amounting to 110 million yuan from January to May on imported goods worth 3.47 billion yuan.

Customs has also helped four local universities be included in the tax-free qualification list of the Ministry of Education. So far this year, the universities have seen tax reductions of 6.8 million yuan on imported scientific research equipment worth 50.69 million yuan.

In view of the fact that many high-level certified scientific research enterprises have large import demand for special goods and high requirements for customs clearance time limit, Shenzhen Customs has launched specific services to fast-track the quarantine inspection of imported special articles.

As of May 20 this year, the customs authority had completed the quarantine inspection of 440 batches of special goods, effectively ensuring the progress of key research and development projects such as virus detection reagents during the epidemic.

In accordance with relevant preferential tax policies, some scientific research institutions, technological development institutions and schools are exempt from import tariffs, import value-added taxes and consumption taxes, customs said.

At present, Shenzhen Customs has handled two batches of imported scientific research material for Shenzhen University and Southern University of Science and Technology under the preferential tax policies, with the value of goods reaching US$470,300 and the amount of tax reliefs totaling 484,700 yuan. (Zhang Yu)