Huabao Flavours & Fragrances Was Awarded the Title of “Class A Tax-paying Credit Enterprise in 2018”

On the morning of May 21^st, 2019, “the Awarding Ceremony of the Class A Tax-paying Credit Enterprise of the Taxation Bureau of the Lhasa Economic and Technological Development Zone of the State Administration of Taxation in 2018”was held at the Mass Entrepreneurship and Innovation Center of Lhasa Economic and Technological Development Zone. The Ceremony was attended by Qi Mei, Secretary of the Leading Party Members’ Group of Taxation Bureau of the Lhasa Economic Development Zone, Director Li Gang, Chief Economist Puebla Tashi, the heads of the major departments and the representatives from 30 enterprises. The meeting announced the assessment results of 74 “Class A Tax-paying Credit Enterprises in 2018”. Huabao Flavours & Fragrances Co., Ltd. was awarded the title of “Class A Tax-paying Credit Enterprise in 2018” by virtue of its regulating tax payment in accordance with the law, high integrity and self-discipline, and actively assisting the construction of social credit system.

Huabao Flavours & Fragrances has always attached great importance to tax management, closely followed the reform of the national tax system, and fully learned to understand the tax policy to promote its own development. The Company strengthened tax planning work, increased the taxation knowledge training of financial staff, and strengthened employees' awareness of taxation according to laws. The Company continues to strengthen the taxation basic work, strives to improve the accuracy and timeliness of tax declarations, actively maintains communication and contacts with the taxation department, and establishes a good tax-enterprise relationship, which has obtained full recognition and high evaluation from the tax authorities. Tax-paying credit rating is a comprehensive assessment of taxpayers' compliance with laws and paying taxes in accordance with the law. The credit ratings are classified into Class A, Class B, Class C, and Class D, among which Class A is the highest level with the most stringent assessment criteria and the most thorough assessment process. Huabao Flavours & Fragrances has been awarded the title of “Class A Tax-paying Credit Enterprise” for two consecutive years in Tibet.