Textile Industry "Cold" Shandong Zouping Tax Will Be "Fever"

< p > today (24), Zouping state owned assets investment and Management Co., Ltd. (hereinafter referred to as "Zouping state investment") will issue corporate bonds in 2014 (referred to as "14 Zouping bonds"), with a total issue of 800 million yuan.

It is reported that, as the most important city infrastructure and public utility project investment and financing construction body in Zouping County, the company receives support from the government in such aspects as project repurchase, land allocation and land operation income return.

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< p > Zouping is one of the economically powerful counties in Shandong, and is also one of the top 100 counties in China.

However, the Economic Herald reporter noted that in the tax revenue of Zouping County, Shandong Wei Qiao venture group (hereinafter referred to as "Wei Qiao group") has the largest tax paying ratio.

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In the < < 14 Zouping debt > prospectus, it is disclosed that in 2012, the top ten tax enterprises in Zouping accounted for 73.95% of the total tax revenue, while Wei Qiao group accounted for 49.81% of the total tax revenue (when the total annual tax amount was as high as 3 billion 978 million yuan).

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"P >" overall, the pillar industries and key tax enterprises in Zouping have a larger contribution to the total financial revenue, but the tax concentration is higher.

Such a high concentration of tax revenue makes its financial revenue vulnerable to the "a target=" _blank "href=" http://www.91se91.com/ "> textile" /a "and other industries cyclical fluctuations.

Wang Zheng, chief financial analyst at Ruiyuan, told reporters on the guide.

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< p > < strong > tax source concentration "double-edged sword" < /strong > < /p >.

Zouping P was established in May 2003. It was approved by the Zouping county government and authorized by the Zouping County Accounting Association. Its registered capital is RMB 150 million yuan.

Subsequently, after a series of capital increase and share pfer, as of the end of 2012, the registered capital of the company was RMB 200 million yuan. The Zouping County Information Management Center owns 100% of the company's equity and the Zouping county government is its actual controller.

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< p > from the perspective of functions, Zou Pingguo has been entrusted with the government to collect, raise, manage and use the funds for local infrastructure construction, to examine the budgets of infrastructure projects, and to manage and manage state assets and urban assets.

According to the prospectus of "14 Zouping debt", with the development of regional economy, the total revenue of Zouping county has been increasing constantly, and the local economic growth has brought about better fiscal revenue.

In the 2010-2012 year, the total revenue of Zouping county was 7 billion 500 million yuan, 8 billion 610 million yuan and 9 billion 520 million yuan respectively. The growth rate in 2011 and 2012 was 14.8% and 10.6% respectively.

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< p > reporter found that by implementing the development strategy of industrial strong counties, Zouping county has cultivated five pillar industries: Textile a target= "_blank" href= "http://www.91se91.com/", "clothing /a", food and medicine, manufacturing smelting, paper making and chemical industry.

Among them, the textile and clothing industry and the food industry are the first and second pillar industries in Zouping county respectively.

In fact, Zouping county is the largest textile industrial base in the country, and has the largest cotton textile enterprise Wei Qiao group in the country. The food manufacturing industry owns leading enterprises in such industries as the West Wang Group and Zouping SamSung group, which plays a strong role in promoting the economic development and revenue increase of Zouping County.

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< p > "it is no exaggeration to say that the textile industry has a" cold ". Zouping's tax revenue will be" feverish ". On the 23 day, Mr. Dong, the director of a tax intermediary agency who does not want to be named, told the reporter that" 10 tax households have paid more than 70% of the local tax revenue, and large enterprises have become the absolute main force of paying taxes. "

However, the risks arising therefrom can not be ignored. "

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< p > in his view, although the concentration of tax and the dependence of key tax sources have become a trend of economic development in many places, generally speaking, the higher the tax source concentration is, the greater the tax risk is.

"Large enterprise groups usually operate in a wide range, and tax matters are very complicated. Some even hire tax professionals, accountants and other professionals to seek tax avoidance, which directly jeopardize tax safety.

Therefore, it is necessary to establish and improve the supervision and identification of tax related risks by tax authorities in order to cope with the risks that may arise.

Mr. Tung said.

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< p > "increasing tax concentration will also lead to a great reliance on key tax sources."

Wang Zheng said that if a small number of large enterprises have tax risks, the overall risk of local taxes will become uncontrollable.

In addition, the tax collection of large enterprises generally has the following characteristics: good compliance, systematic risk and so on. Therefore, the demand for tax administration and service is high.

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< p > Mr. Tung said that many large enterprises have many tax risks because they involve many industries, numerous internal business departments, and complex tax treatments.

Enterprise tax risk mainly includes two forms. First, the tax behavior of enterprises is not in conformity with the provisions of tax laws and regulations. They should be taxed without paying taxes and paying less taxes. Thus, they are faced with a tax payment, a fine, a late fee and a penalty. The other is that the tax law applied to the business operation is inaccurate.

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< p > from the top ten tax enterprises in Zouping county (for example, 2012 data), besides Wei Qiao group occupies half of the total tax revenue, the second place is Xi Wang Group. The company's tax amount was 580 million yuan, accounting for 7.26%. of total tax revenue. From the total, the 10 large enterprises paid 5 billion 906 million yuan in total taxes in that year, accounting for 73.95%. < /p >

< p > < strong > rely heavily on subsidy income < /strong > /p >

< p > prospectus shows that the "14 Zouping debt" is a corporate bond issued by Zouping state investment for domestic institutional investors, with a period of 7 years, and the repayment of principal is made in advance. Since the issuance of the bonds third years, the principal of the bond has been reimbursable according to the 20% percentage of the total issue of the bonds.

A total of 800 million yuan will be used for the project of integration of urban and rural sanitation in Zouping, the road reconstruction project in villages and towns, and the harnessing works of Xinghua River and Xiao Fu River.

It is reported that the above projects have been approved by the competent authorities.

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< p > in the debt security measures, according to the relevant documents, during the duration of the bond, Zouping County Finance Bureau will ensure that the subsidy fund of Zouping state investment is not less than 150 million yuan per year.

At the same time, Zouping state investment and Zouping County domestic waste disposal Co., Ltd. signed a service agreement. After the completion of the urban and rural sanitation integration project, the county garbage disposal company entrusted the Zouping State Investment Corporation to provide garbage collection and compression pfer service and pay the collection compression pfer fee in the form of 110 yuan / ton.

According to the conservative estimation of garbage production at present, after the completion of the project, it will bring a stable income of about 30000000 yuan per year to Zouping state investment.

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< p > "the main business income of the company mainly comes from the BT project (that is, the pfer of construction) and the leasing of some assets. However, the income of the related BT projects is easily affected by the scale of the government's infrastructure construction, and the stability is not strong."

Wang Zheng said.

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< p > it is reported that the BT project of the company mainly includes water supply projects, urban integrated pipe trench projects, garbage disposal projects, etc. BT income accounts for a large proportion of its main business income, and its revenue has kept growing in recent years.

However, this income is vulnerable to the impact of the scale of government infrastructure projects every year.

In addition, the rental income of the company is mainly derived from the external lease of its own property, and the rental income is relatively stable.

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< p > land business is the new business in 2012.

Entrusted by the Zouping land reserve Trading Center, the company was responsible for implementing the first level development of operational land between September 2012 and September 2013.

Land development costs such as land requisition compensation fees are borne by the self raised funds. After the land consolidation and development is completed, the land reserve center will be sold openly, and the land pfer fee will be pferred to the company to supplement its land development cost after deducting the various fees and regulations.

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From the end of P to the end of 2010, the owners' rights and interests of Zouping state investment were 2 billion 272 million yuan, 3 billion 787 million yuan and 4 billion 179 million yuan respectively, and 1 billion 515 million yuan at the end of 2011 compared with the end of 2010. The main reason is that the Zouping County Finance Bureau in 2011 paid the land use rights 1 billion 302 million yuan for free.

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< p > at that time, the Zouping county government injected the land value of 1 billion 302 million yuan into the company and injected 40 million yuan of capital at the same time.

Zouping state investment explained that as a result of the government's infrastructure construction as the main business, the company has strong public welfare nature and its own profitability is not strong enough, so the government subsidized revenue.

From 2010 to 2012, the company received financial subsidy income of 156 million yuan, 141 million yuan and 135 million yuan respectively.

At the same time, the interrogating reporter found that from 2010 to 2012, the company's subsidy income accounted for 116.41%, 145.06% and 96.76%. of the total profit respectively, which indicated that the operating profit of the company in the 2010 and 2011 was tens of millions of dollars, and in 2012 it was only a small profit.

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< p > < strong > Zouping County top ten enterprises with tax payment < /strong > < /p >

The enterprise name belongs to industry tax and land tax (billion yuan), accounting for 1 of the total tax revenue (%). Shandong Wei Qiao venture group textile industry 39.7849.812 Xiwang Group, food manufacturing industry, 5.807.263 2.823.534 Group Co., Ltd., Shandong innovation Metal Technology Co., Ltd., metal products industry, 2.132.675, Shandong Changxing Group Co., Ltd. General equipment manufacturing industry 2.002.506, Zouping rural commercial bank, Limited by Share Ltd finance industry 1.672.097 SamSung group, food manufacturing industry 1.541.938 Shandong iron Xiong Energy Group Co., Ltd. petroleum processing, coking and nuclear fuel industry 1.161.459 Shandong Shandong Group Co., Ltd. ferrous metal smelting and rolling processing industry 1.121.4010 Shandong Guangfu iron and Steel Group Co., Ltd.