On May 21, it’s learned from Yichang Customs that in the first month of the implementation of the new value added tax reduction policy, the foreign trade enterprises in the city paid 0.4 million yuan less.

　　From April 1 this year, the state has been implementing the new tax policy, according to which for imported goods, the original VAT rate of 16% is adjusted to 13%, and that of 10% to 9%.

　　The cut on the VAT rate has effectively reduced the tax burden and import cost of enterprises, while being conducive to the sound development of enterprises, to the enhancement of their international competitiveness, and to the further reinforcement of their willingness to import. In the next step, Yichang Customs will further enhance its policy publicity and service to ensure that the tax reduction policy is in place and that it benefits more import-oriented enterprises. (Reporters: Yang Jing, Gao Shengnan; Correspondent: Sun Furong)