In recent years, the Tianhe taxation bureau has been advancing the "Spring Rain Moistening Seedling" campaign to help local small and micro-sized businesses develop and stimulate market entities.

By cooperating with other governmental departments, nearly 300 incubators and maker spaces in the district and relevant social organizations, the bureau has been publicizing the district's policies to slash taxes and fees and offer relevant services.

The bureau, along with other governmental departments, has established Guangzhou international community tax service stations to allow for instant online acceptance of 76 tax-related governmental affairs and self-services for 46 affairs.

In addition, a one-stop service window opened at the Guangzhou municipal government service center in the district to implement individual income tax subsidies in the Guangdong-Hong Kong-Macao Greater Bay Area.

A symposium is held to help specialized and innovative small and medium-sized enterprises in Tianhe. [Photo/thnet.gov.cn]

In addition, the bureau held special training and symposiums for specialized and innovative small and medium-sized enterprises in the district, visited key enterprises, and instructed enterprises to make full use of tax and fee reduction policies.

In 2020, a total of 296 enterprises in the district enjoyed 770 million yuan ($120.62 million) in tax incentives for high-tech enterprises, while 550 high-tech enterprises enjoyed 66.18 million yuan in tax incentives for small low-profit enterprises.

By early November this year, total tax and fee reductions for specialized and innovative SMEs had exceeded 20 million yuan.

"My company conducted B-round financing in the first half of this year, which involved a large amount of taxes, and had many questions in terms of procedures and policies when handling taxes," said the accountant at an industrial limited company in Tianhe.

The person added that the taxation bureau took the initiative to provide them with policy guidance, helping them reduce stamp duties by 52,500 yuan and saving time as well.