Science and technology are the primary productive forces, and innovation is the primary driving force for development. In recent years, the Qiannan Buyi and Miao Autonomous Prefecture Taxation Bureau of the State Administration of Taxation has focused on practical applications and continuously optimized services, helping businesses "access policies and resolve problems." They have served taxpayers with care, doing practical work for them, and empowering high-quality development through concrete actions.

Preferential policies are fully operational, boosting confidence.

Stepping into the production workshop of Guizhou Lanxin Graphite Electromechanical Equipment Manufacturing Co., Ltd., one finds a wide variety of products, including synthesis furnaces, heat exchangers, towers, and graphite accessories.

As a national high-tech enterprise, one of China's top 20 anti-corrosion companies, a technology-based small and medium-sized enterprise, and a 2021 "Specialized, Advanced, and Innovative" enterprise in Guizhou Province, Lanxin Graphite is the only manufacturer in Southwest China that specializes in the research and development, production, and sales of a wide range of high-performance graphite equipment, PTFE lined equipment, metal pressure vessels, waste acid and alkali recovery equipment, waste heat recovery equipment, fluorine and heavy metal recovery equipment, and wastewater treatment equipment for the chemical industry.

To fully leverage the additional deduction for R&D expenses to promote technological advancement, enhance independent innovation capabilities, and help companies achieve new breakthroughs in the graphite manufacturing industry, the tax authorities have established a "one-company, one-file" service file for high-tech enterprises. This allows them to dynamically track their R&D and innovation progress, ensuring that tax incentives and exemptions align with their R&D base. They also provide timely information on companies' related expenses, including personnel, direct investment, and depreciation, and provide guidance on fully declaring and enjoying the additional deduction policy for high-tech enterprise income tax.

The picture shows tax officials visiting enterprises to understand R&D and innovation

"Although the road to innovation is fraught with difficulties, we've seen breakthroughs in technologies like graphite heat exchangers, byproduct steam graphite synthesis furnaces, and waste acid and alkali recovery and treatment systems. Thanks to technological innovation, we've secured over 40 patents, which are our trump cards. Over the past two years, with the help of the tax authorities, we've enjoyed over 7 million yuan in additional deductions for R&D expenses. This gives us even greater confidence and sturdiness as we pursue our development path of specialization, refinement, differentiation, and innovation," said Liu Yong, the company's finance officer.

Bank-tax cooperation brings fresh energy to address challenges.

Guizhou Tianhong Zhiyuan Wire and Cable Co., Ltd., located in Huishui, Guizhou, is one of the province's key investment attraction companies. It has secured over 50 product patents and has been recognized as a national high-tech enterprise and a specialized, specialized, and innovative "Little Giant" enterprise. In recent years, Tianhong Cable's independently developed low-smoke, halogen-free, fire-resistant irradiated wire and cable, along with other specialty cables and derivatives, have achieved industrial application and secured numerous orders, becoming a key growth point.

In the first quarter of 2024, the company received orders worth over 12 million yuan for fire-resistant cable products alone. However, as orders continued to increase, the company urgently needed to purchase large quantities of raw materials for production, significantly increasing its financial pressure.

After understanding the situation and verifying the company's good tax credit rating, the tax authorities immediately contacted local financial institutions to help the company convert its tax credit into real money through credit loans, helping it overcome its financing challenges.

The picture shows tax officials visiting enterprises to understand their production and operation conditions

"The timely arrival of 10 million yuan resolved our funding gap. The tax department immediately promoted the 'Bank-Tax Loan' and provided us with policies such as additional deductions for R&D expenses, VAT refunds, self-declaration of individual income tax, and corporate income tax deductions. These policies have truly helped our company resolve many issues," said Li Jinmin, Chairman of the Company.

Going forward, the Qiannan Taxation Department will continue to collaborate with relevant local departments to diligently promote new integrated tax and fee support policies and the "Spring Rain Nurturing Seedlings" initiative to support businesses. The department will strengthen the targeted dissemination of tax and fee support policies, increase taxpayer awareness of these policies, develop tailored solutions, and provide tailored "one file, one policy" services to each individual company. This will ensure that tax refunds are delivered quickly and efficiently, fueling the high-quality development of technology companies.