laitimes

How does "Snow Dragon" save more than a billion yuan? Demystify the tax policy behind the "Science and Technology Winter Olympics"

Intern reporter Zhao Jun

Spinning and rising, like a ribbon dancing and floating, turning into a roaring flame at the top... As one of the elements that have attracted much attention in previous Olympic Games, the Winter Olympic Torch "Flying" has become the global focus as soon as it was unveiled because of the world's first use of carbon fiber composite materials to make a shell, showing the characteristics of "light, solid and beautiful".

As a leading enterprise in the research and development and mass production of torch research and development designated by the Organizing Committee of the Winter Olympics, Sinopec Shanghai Petrochemical co., Ltd. uses carbon fiber composite materials to present the imaginative outer ribbon art shape of the torch with high precision. Shanghai Petrochemical is the only enterprise in China Petrochemical System that develops and produces carbon fiber and takes the lead in breaking through the industrialization technology of 48K large tow carbon fiber in China. Since June 2020, Shanghai Petrochemical has led the research and development of carbon fiber for the shell of the Winter Olympic torch, and has begun to solve the two major problems of carbon fiber composites with high temperature resistance, combustion resistance and hydrogen as fuel.

The Shanghai tax department has set up a special post for the management of large enterprises through the Tax Source Management Institute, and the special person regularly follows up and returns to collect tax-related needs, timely assists in solving tax-related doubts, and provides closed-loop management of large enterprise needs for Shanghai Petrochemical. From 2020 to 2021, enterprises have enjoyed nearly 60 million yuan of R&D expenses plus deductions, most of which are used to solve the research and development problems of carbon fiber.

How does "Snow Dragon" save more than a billion yuan? Demystify the tax policy behind the "Science and Technology Winter Olympics"

Image source: State Administration of Taxation Shanghai Municipal Taxation Bureau

From the pre-warmed torch relay before the game to the countless uniforms and equipment "planting grass" at the competition site, to the meticulous support services behind the scenes, all aspects of the Beijing Winter Olympics revealed a complete "scientific and technological fan". Behind this, there is not only the active participation and contribution of technology companies and scientific and technological workers, but also the "tax assistance" released by the fine service of the tax department and the support of tax reduction.

As the exclusive identity of the staff, technical officials and volunteers of the Beijing Winter Olympic Games, the uniform equipment combines functionality, nationality and artistry, and has become a landscape on the Winter Olympic field.

The premise of clothing innovation is fabric innovation, the only designated supplier of the insulation layer of the middle insulation layer of the winter Olympic Organizing Committee of the winter Olympics, Shanghai Jialinjie Textile Co., Ltd., has played the advantages of functional fabric production and garment manufacturing, and developed innovative fabrics, which not only meet the needs of various scenes of the Winter Olympics in terms of function, but also reflect the charm and beauty of China's excellent traditional culture in appearance.

"With the help of the meticulous service of the tax department, our R&D strength has been enhanced." According to the person in charge of the enterprise, at the end of last year, the company enjoyed nearly 500,000 yuan of tax relief in the manufacturing industry, and the deduction of R&D expenses in the past two years reached nearly 60 million yuan; its subsidiary successfully passed the identification of high-tech enterprises and will enjoy the national preferential tax policies for high-tech enterprises for 3 consecutive years. "Last year was the tough stage of our fabric research and development, and the tax department often took the initiative to inquire about the production situation, guide us in detail to enjoy the latest preferential treatment, and even interpret the report filling and software operation, which is particularly meticulous."

It is understood that Shanghai Jialinjie Textile Co., Ltd. as early as 2020 for the "preparation" of the Winter Olympics to prepare, the company also adhering to the "function and appearance, science and technology and green emphasis" concept, the use of recycled yarn to complete the recycling cycle, in terms of scientific and technological content and green sustainability have reached the industry's advanced level, in response to the "green Olympic" concept.

How does "Snow Dragon" save more than a billion yuan? Demystify the tax policy behind the "Science and Technology Winter Olympics"

The award bouquet of the Beijing Winter Olympic and Paralympic Winter Games , a velvet flower hand-woven by hand-knitting from intangible cultural heritage skills, comes from the Shanghai time-honored brand "Hengyuanxiang". Over the years, Hengyuanxiang has seized the important opportunities of Olympic events and has long been committed to sports and cultural undertakings. According to Wang Danqing, head of finance of Hengyuanxiang (Group) Co., Ltd., the cumulative reduction and reduction of various tax incentives enjoyed by enterprises is millions. "We will seize the opportunity to serve the Olympic Games, inherit the pride of serving the Olympic Games, provide warm and thoughtful services for the Winter Olympics, fully display the traditional Cultural Heritage of China, and strive to achieve a double harvest of economic and social benefits."

Since Shanghai Baoye Group Co., Ltd. undertook the construction of the National Bobsleigh Center Project in 2018, it has successfully developed and completed high-strength, high-performance special sprayed concrete for the track, realizing the chinese people to complete the spraying task by themselves and filling the domestic gap. At the same time, the company adopts ammonia refrigeration system and track ice repair technology, and sets up its own first bobsleigh track ice maker team in China, which is the first in China.

The National Bobsleigh Center "Snow Dragon" is one of the new competition venues in the Winter Olympic Games with high design difficulty, difficult construction and complex construction process. Ma Xinxin, director of the Planning and Finance Department of Shanghai Baoye Group Co., Ltd., said: "The National Bobsleigh Center was fully completed on December 29, 2020, and the blueprint of the mountain forest venue became a reality, which is inseparable from the good policy of tax reduction and fee reduction. ”

Since the start of the project in 2018, the company has enjoyed about 1.16 billion yuan of R&D expenses, and the corresponding corporate income tax concessions of about 170 million yuan, providing a financial guarantee for the team's technological innovation and the smooth progress of the project.

On February 20, 2022, the XXIV Winter Olympic Games were successfully concluded in Beijing.

The relevant person in charge of the Shanghai Municipal Taxation Bureau of the State Administration of Taxation said that the "Science and Technology Winter Olympics" not only present the beauty of sports for the world, but also concentrate on the scientific and technological strength of the host country. The Shanghai Municipal Taxation Department will take the initiative to play the role of tax functions, accurately implement various preferential tax policies with better services, more practical measures and higher efficiency, effectively help taxpayers solve their worries and difficulties, and show taxation in helping "China's intelligent manufacturing".

Read on