Tax measures help development of Maoming's coastal industries

Maoming's coastal industries have developed rapidly due to the success of tax support policies launched by the city. In addition, Maoming launched "one-to-one" tax services and established a chief tax service officer for its coastal industries, bolstering the industries' development.

The Maoming municipal taxation bureau has been providing policy support to Maoming's key coastal industries, such as the green chemicals, hydrogen energy, port logistics, and cultural tourism industries, empowering these advantageous industries to accelerate their development.

These policies have benefited Maoming Guanggang Wharf, which built and operates Bohe New Harbor's Guanggang Wharf, the first deep-water port wharf built in the Bohe new port area, with a total investment of 2.17 billion yuan ($343.08 million).

Due to the huge investment made in the wharf's construction and the impact of the COVID-19 pandemic, the company faced large capital turnover pressure. However, through the city's preferential tax and fee policies, it has managed to overcome these issues and has developed rapidly.

Since the introduction of the city's incremental value-added tax rebate policy in 2019, the company has received nearly 15 million yuan in cumulative tax rebates. In 2021, the company received 3.71 million yuan from tax incentives, such as property taxes, urban land use tax reductions and exemptions, as well as value-added tax rebates, which provided sufficient vitality for accelerating port construction. Last year, the company's cargo throughput was 3.2 million metric tons, a year-on-year increase of over 1.4 million tons, an increase of 78 percent.

Bohe New Harbor's Guanggang Wharf. [Photo/WeChat account:maofabu]