Tax credit becomes "real gold"

On October 27th, when Zou Wensheng, general manager of Zigong Loki Youni Valve Co., Ltd. saw the natural gas valve exported to the United States on the train, he breathed a long sigh of relief... An original export order that was difficult to complete was local. With the help of the National Taxation Bureau and the Rural Credit Cooperative, the company is back to life, allowing companies to find a new world in the international market!

Luoji Youni Valve Co., Ltd. is a small enterprise mainly exporting natural gas valves located in the high-tech zone of Zigong City, Sichuan Province. The products are mainly exported to Southeast Asia, the Middle East, South America and other regions. In mid-August, Carry Valve Inc. of the United States took the initiative to contact Zou Wensheng to order a batch of natural gas valves worth US$500,000. This was the first US order received by the company. Zou Wensheng quickly arrived in the United States, signed a contract with the customer, agreed to deliver within 80 days; but after returning home, he encountered a major problem of liquidity shortage, unable to organize production in time. Because there are not enough fixed assets as collateral, many banks have rejected Zou Wensheng's loan request. If they can't deliver on schedule, the company will assume a huge liability for breach of contract, and even lose out.

At the time when Zou Wensheng was unable to do anything, it happened that the cadres of the State Taxation Bureau of Zigong City went to enterprises to provide guidance on export tax rebate policies. After learning about this situation, the Municipal State Taxation Bureau immediately contacted the Municipal Rural Credit Cooperatives to provide corporate tax credits, export tax rebates, and funds. Demand and other conditions were informed to the Rural Credit Union, and through the "silver-tax interaction," the company was helped to secure a 3 million yuan unsecured tax credit loan. The company received the funds within a few days and successfully completed the order within the time set by the foreign party.

Zou Wensheng told reporters that the completion of this order, the company's export business within the year to achieve a slippery rise, the annual export volume is expected to reach 4 million US dollars, an increase of 25.4%. "I did not expect tax credits to be able to borrow. Without the support of the tax authorities and the banks, this list is really "yellow" and the development of the company is suspended."

Since the beginning of this year, “silver tax interactions and credit financing” have been actively carried out in many parts of the country. The tax authorities have cooperated with commercial banks to establish a mutual recognition mechanism for credit information and a mechanism for sharing the evaluation results of tax credit, and introduced tax credits and tax information. Financial products such as loans and “tax credits” further release the dividends of creditworthiness and taxation, solve the financing problems of small and micro enterprises, and help the public to innovate and create innovations. According to the relevant person in charge of the Sichuan Provincial Taxation Bureau, the State Taxation Bureau of the province has established cooperation mechanisms with provincial construction banks, rural credit unions and other financial institutions. Currently, it has issued loans of RMB 1.05 billion for enterprises, benefiting more than 700 small and micro enterprises.