General

Go abroad and find new opportunities. With the adjustment of epidemic policy, many international trade enterprises in Yantai area of Shandong Pilot Free Trade Zone have rushed to sea. To this end, Yantai District focuses on the innovative resources and policy advantages of free trade, continues to implement various tax incentives to support foreign trade enterprises, helps enterprises seize the opportunity of "going to the sea" window, opens up the international trade market, and helps the high-quality development of cross-border trade.

Agree to enjoy benefits and enhance the confidence of "order grabbing"

As an export mining equipment enterprise, the equipment products of Yantai Jinpeng Mining Machinery Co., Ltd. are exported to more than 40 countries, including Türkiye, Malaysia, Indonesia and Tanzania. A few days ago, Jinpeng Mining signed a contract with an Indonesian company for the purchase and installation of relevant equipment, with a total contract amount of nearly US $30 million.

However, due to the domestic tax laws of the partners, the enterprises of the country need to withhold and pay a large amount of overseas taxes when paying royalties overseas, which is a heavy burden for Jinpeng Mining. After detailed understanding of the implementation process, mode and duration of the enterprise's overseas project, the district tax bureau issued the "China Tax Resident Certificate" for the company, and guided the enterprise to enjoy the treatment of the two countries' tax treaties in accordance with the permanent establishment and operating profit provisions of the "Agreement between the Government of the People's Republic of China and the Government of Indonesia on the Avoidance of Double Taxation and the Prevention of Tax Evasion on Income and Property", Exemption from taxation in Indonesia is more than 19 million yuan.

"With the support of the tax authorities, Jinpeng Mining has a stronger foundation to participate in international trade competition, and I believe that in the future, our mining machines will be popular in mines in more countries around the world." Yu Yan, the financial director of Yantai Jinpeng Mining Machinery Co., Ltd., said excitedly.

Accelerate the tax refund to activate the cash flow of enterprises

After the Spring Festival, the plant area of Doosan Construction Machinery (China) Co., Ltd. was operating in a tense manner. A set of excavators and forklifts went off the production line from the workshop to all parts of Asia, Africa and Europe.

The expansion of production is bound to test the capital chain. "Although the operation of the production department is at a relatively tight pace, and the purchase of various raw materials and accessories cannot be relaxed, the efficiency of export tax rebate has solved a great problem for us now," said Bai Zhiwei, head of the tax department of Doosan Machinery. "Since last year, the export tax refund handled by Doosan has achieved 'declaration on the same day, tax refund on the same day', and the time of tax payment is not more than two days at the latest, which timely replenishes the cash flow."

It is understood that Doosan Machinery will achieve an export tax rebate of more than 170 million yuan in 2022, and more than 10 million yuan of value-added tax will be refunded immediately, which provides great help for enterprises to further expand production and seize the competitive advantage in the international trade market.

Targeted relief, cost reduction and quality improvement

Entering the plant area of Yantai East Star Group, the modern production workshop and the ancient park buildings complement each other. However, with the increase of R&D investment, the increase of product lines and the continuous improvement of benefits, the financial work of enterprises is facing a difficult problem.

"Since last year, we have been nervous about the collection and accounting of R&D expenses for fear of mistakes and omissions." In order to accurately calculate the annual R&D expenses, Wu Yumin, the financial director of Dongxing Group, has added several classes in succession.

In order to solve the "worries of the enterprise", a "tax expert advisory group" set up by the tax department went to Dongxing to "check the pulse" on the spot, to provide advice for the enterprise on the policy of enjoying the value-added tax deduction and refund and the R&D expenses plus deduction, and to ensure that the enterprise fully enjoys the benefits within the scope of the policy.

"The 'one-to-one' policy guidance of the tax department has enabled us to better transform the policy advantages into the driving force of development, and has also effectively solved the worries about taxation. I believe that East Star will be able to carry on the battle light and achieve better results this year." Yu Dawei, chairman of Yantai East Star Group, is full of confidence.

"More than two provincial innovation cases will be launched in the year, helping the district's high-tech enterprises to break through 600 and high-tech SMEs to break through 1000, and contributing more tax wisdom and tax power to the district's green, low-carbon and high-quality development," said the relevant head of the district's tax bureau.