Tax survey and analysis of foreign trade enterprises affected by the financial crisis

1. Overall analysis of the income and tax situation of foreign-invested enterprises under the influence of the financial crisis

As of the end of 2008, There are 6,977 foreign-related enterprise tax registration households in *** in our city, an increase of 207 households, an increase of 2.97% over the same period last year; among them, 5,269 households are open, an increase of 727 households over the same period last year, and the opening area is 75.52%, an increase of 8.43% over the same period last year. % percentage points. From January to March 2009, 65 new foreign-related enterprise tax registration households were added, including 20 households that were opened.

(1) Although tax revenue increased in 2008 compared with the same period, the increase rate has been greatly reduced

In 2008, the city’s foreign taxation departments at all levels organized the completion of the city’s foreign investment Corporate tax revenue was 19.563 billion yuan (including 4.071 billion yuan in exemptions, offsets, and transfers), a year-on-year increase of 26.46%, an increase lower than last year's 13.92 percentage points; the city's net foreign investment tax revenue was 15.492 billion yuan, a year-on-year increase of 29.69%, an increase lower than 16.73 percentage points last year, of which the two taxes were 10.759 billion yuan, a year-on-year increase of 24.26%, an increase lower than last year's 14.85 percentage points, and the income tax was 4.733 billion yuan, a year-on-year increase of 43.98%, an increase lower than last year's 25.67 percentage points.

(2) In 2008, various indicators showed a quarterly decline, and the influence gradually deepened.

According to various tax chain indicators in 2008, the impact of the global financial crisis on foreign-funded enterprises in our city was The impact mainly began to be reflected in the third quarter of the second half of the year, and the downward trend of various indicators intensified in the fourth quarter. For example, taxable sales revenue in the fourth quarter dropped by 11.30% compared with the third quarter, and the treasury income tax dropped by 11.30% compared with the third quarter. Compared with the third quarter, there was a 13.82% decline, and the treasury consumption tax dropped by 42.11% compared with the third quarter. The impact is gradually deepening.

(3) Various tax revenue indicators improved slightly at the beginning of 2009, and signs of "recovery" in tax revenue are not widespread yet

Due to the gradual deepening of the impact of the financial crisis on the economy, the country has Since the beginning of the first half of the year, a series of measures to stimulate economic growth have been introduced. Inspired by these measures, some enterprises across the country have increased their orders since January 2009 and have begun to replenish inventories. Industrial electricity consumption has increased, and some industrial data have improved. Changes in direction, such as industrial added value in March increased by 8.3% year-on-year, significantly higher than the 3.8% industrial growth rate in the previous two months; national electricity consumption in March rebounded by 1.9% from February; fixed asset investment increased in the other quarter 28%. However, due to the lagging nature of tax revenue reflecting the economy, various tax revenue indicators did not fully show a good improvement in early 2009, and signs of tax "recovery" are not yet widespread.

(4) The expected tax revenue indicators in 2009 are not optimistic, and tax revenue is still facing severe challenges

1. From the perspective of corporate forecasts. Sampling Survey*** conducted a questionnaire survey on 435 of the 618 key foreign-invested enterprises in our city, with a sampling rate of 70.38%. Judging from the questionnaire feedback, due to the existence of many uncertain factors, most foreign-invested enterprises have no confidence in their future development. The situation cannot be accurately estimated, so the forecasts of corporate sales and tax revenue in 2009 are conservative and cautious. Judging from the overall estimates of various tax expected indicators for 2009 reported by 435 companies in this questionnaire survey, it is expected that in 2009 The total sales revenue of foreign-funded enterprises in our city will drop by 9.22% year-on-year, the inbound value-added tax will drop by 26.42% over the same period, and the inbound corporate income tax will drop by 29.48% over the same period. All tax indicators have dropped significantly.

2. Look at the forecasts of each grassroots branch. Except for the New District, Xishan and Urban No. 1 bureaus, which are predicted to achieve growth, the tax revenue predicted by the other bureaus in 2009 has declined by 2.83%-20.97% compared with the same period. From the overall forecast of all grassroots bureaus Judging from the situation, it is estimated that the city's net foreign investment tax revenue in 2009 will be 15.142 billion yuan, a decrease of 2.26%, of which the two taxes will be 10.151 billion yuan, a year-on-year decrease of 5.65%, and the income tax will be 4.991 billion yuan, an increase of 5.45%.

3. From the perspective of prediction based on comprehensive factors of all parties. The city's net tax revenue from foreign investment in 2009 is forecast to be 14.3 billion yuan, down 7.7% year-on-year, of which 2.765 billion yuan will be reduced due to the implementation of the new value-added tax policy and 96 million yuan will be reduced due to changes in the export rebate rate. Excluding the tax revenue reduction factors caused by changes in tax policies, the city's net tax revenue from foreign investment in 2009 is expected to be 17.161 billion yuan, a year-on-year increase of 10.77%, an increase of 18.92 percentage points lower than the previous year. This shows that the financial The impact of the crisis on our city's foreign-related tax revenue will continue in 2009.

2. Analysis of the tax situation of key foreign-invested industries and enterprises under the influence of the financial crisis

During this financial crisis, the ferrous metal smelting and rolling processing industry, among the key foreign-invested industries in our city, The four industries of communication equipment, computer and other electronic equipment manufacturing, chemical raw materials and chemical products manufacturing, and electricity and heat production and supply industries are greatly affected, mainly reflected in:

(1) Ferrous metal smelting and rolling processing industry

Ferrous metal smelting and rolling processing industry, which we commonly call the steel industry, is affected by the sharp drop in steel prices on the one hand, and by the three major industries of real estate, automobiles, and shipbuilding on the other hand. The impact on industries with relatively large demand for steel has made it difficult to survive alone. The foreign-invested steel industry in our city achieved sales revenue of 101.239 billion yuan in 2008, an increase of 27.19%, an increase of 15.3 percentage points lower than the same period in the same period, and a value-added tax of 2.012 billion yuan, an increase of 12.15%, an increase of 35.87 percentage points lower than the same period of the same period. Among the city's 38 key foreign-invested steel enterprises, 18.42% achieved sales in 2008 that were lower than the previous year, and 44.74% experienced negative growth in value-added tax.

(2) Communication equipment, computers and other electronic equipment manufacturing industry

Our city’s communication equipment, computer and other electronic equipment manufacturing industry is mainly supported by the two major industries of semiconductor and liquid crystal. The two major industries are mainly export-oriented manufacturing, and most of them provide supporting services to other enterprises. A small proportion of them produce a complete set of products and sell them domestically. Due to the impact of the financial crisis, the reduction of export orders has led to insufficient production, which has further affected the Growth in overall revenue and profits for the industry. In 2008, the city's foreign-funded electronics industry achieved total sales of 110.179 billion yuan, a decrease of 5.35%, an increase of 57.45 percentage points lower than the same period, of which export sales were 67.973 billion yuan, an increase of 12.1%, an increase of 2.42 percentage points lower than the same period; The value-added tax was 581 million yuan, an increase of 26.03%; the treasury income tax was 825 million yuan, an increase of 19.05%, which was 47.54 percentage points lower than the same period in the same period. In addition, the sales gross profit of some key electronics companies also dropped significantly in the fourth quarter, and the sales profit margin increased from last year. It fell from 9% to 1% over the same period.

(3) Chemical raw materials and chemical products manufacturing industry

Due to the decline in international and domestic demand on the one hand, the chemical raw materials and chemical products manufacturing industry has led to a serious shrinkage of the market in this industry. On the other hand, due to the sharp drop in international oil prices, the prices of chemical raw materials and chemical products at home and abroad have fallen sharply, product profit margins have been severely squeezed, and corporate economic benefits have been seriously affected. In 2008, the city's chemical raw materials and chemical products manufacturing industry achieved sales revenue of 39.845 billion yuan, an increase of 20.41%, an increase of 90.16 percentage points lower than the same period; export sales of 10.122 billion yuan, an increase of 16.96%, an increase of 107.04 percentage points lower than the same period. ; The inbound value-added tax was 752 million yuan, an increase of 40.30%, of which the inbound value-added tax in the third quarter dropped 16.06% from the previous quarter; the inbound income tax was 187 million yuan, an increase of 12.65%, an increase of 78.15 percentage points lower than the same period. In addition, due to the sharp fall in international oil prices, the overall profit level of the industry has dropped significantly. The total profit of the existing 46 key enterprises in our city has dropped by 49% year-on-year.

(4) Electricity and heat production and supply industry

Due to the sharp decline in demand for electricity and heat caused by the rapid economic recession and the continued tight supply of coal, prices have skyrocketed, and business operations Due to the double attack of rising costs, our city's foreign-invested electricity and heat production and supply industries have also been severely tested in this financial crisis. In 2008, the industry achieved sales revenue of 12.179 billion yuan, a year-on-year increase of 15.52%, an increase of 34.75 percentage points lower than the same period last year; inbound value-added tax of 750 million yuan, a year-on-year decrease of 11.35%; inbound income tax of 56 million yuan, a year-on-year decrease of 6.340% %.

In addition to having a greater impact on the above four key foreign-invested industries, the financial crisis has also had a certain impact on other key industries in our city. For example, the "transportation equipment manufacturing industry" has been affected by foreign automobile manufacturing, Affected by the recession in shipping and other industries, sales growth slowed down. The "Textile and Garment Industry" has experienced a significant reduction in export orders, resulting in a reduction in the industry's sales.

3. Analysis of the production and operation conditions of foreign-funded enterprises under the influence of the financial crisis

(1) Changes in enterprise investment plans

Judging from the situation of enterprises in the sample survey, In 2008, only a few companies increased capital. For example, 22 companies in New District increased capital, with a capital increase of US$238.268 million and 255.04 million yuan; Jiangyin increased capital for 5 companies, with a capital increase of 113 million US dollars; Yixing increased capital for 3 companies, with a capital increase of 113 million US dollars. The amount is 175.4528 million yuan.

In addition, due to the outbreak of the financial crisis, companies generally have reduced orders and insufficient production, and since the economy will not see a significant improvement in the short term, companies have revised their original investment plans. Currently, only a few companies have plans to increase capital in 2009. Looking at the enterprises sampled in the two cities, two districts and the new district, 8 companies in the new district have plans to increase capital; 1 company in Huishan has a capital increase plan of 14.6 million yuan; 2 companies in Xishan are expected to increase capital by 19.5 million U.S. dollars. This shows that companies under the financial crisis All operations are conducted with caution and caution.

(2) Enterprise orders, construction starts and personnel changes

1. Judging from the estimated sales order saturation of the sampled enterprises in 2009, the decline is not very large, and the average sales order Saturation is 80%. Among them, the sales saturation of Wuxi Shuangbang Steel Products Co., Ltd. is 20%, the sales saturation of Wuxi Zhouxiang Complete Welding Equipment Co., Ltd. is 30%, and the sales saturation of Wuxi Yangjian Dida Lock Industry Co., Ltd. is 30%.

2. Judging from the operating rate of sampled enterprises, the average operating rate of enterprises in 2008 reached 86.46%. In 2009, the average operating rate of enterprises is expected to reach 79.34%, a decrease of 7.12 percentage points over the same period, of which the expected operating rate The proportion of enterprises reaching 100% will decrease by 12.9 percentage points compared with the same period. The proportion of enterprises with operating rates in the range of 30%-59% is expected to increase by 10.6 percentage points compared with the same period. In addition, the operating rates of individual enterprises are expected to decline significantly, such as Jiangyin Bei. The operating rate of Carter Alloy Materials Co., Ltd. is expected to drop by 44.44%, and the operating rate of Impro (China) Co., Ltd. is expected to drop by 35%.

3. Judging from the personnel changes of the sampled enterprises, due to insufficient operating rates, some enterprises began to take turns to take vacations, do 2-day breaks and even lay off employees to achieve the purpose of cutting costs. However, due to relevant guidance from government departments , fewer companies are laying off employees. Among the sampled companies, 72.6% had not laid off employees yet in 2008, and 14.29% had laid off more than 10% of their employees. In addition, in 2009, 49.27% ??of the above-mentioned sample companies did not consider layoffs, and 22.43% of the companies would lay off more than 10%.

(3) The impact of corporate inventory and capital operations

Due to the impact of economic expectations and order conditions, corporate enthusiasm for purchasing goods has been frustrated. Generally, companies are gradually reducing inventory and accelerating payment collection in order to Reduce financial pressure and ensure the cash flow of enterprises. However, there are also a few companies preparing to go public. Since the price of raw materials has been rising from 2007 to the first half of 2008, the cost of inventory units is high, and now the prices of raw materials and products are low, so they are purchasing on a large scale. raw materials, in order to reduce the financial cost of inventory, facilitate the creation of better performance, and achieve the purpose of smooth listing. As for the operation of funds, due to the government's supportive policies, there has been no obvious tightening.

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