Editor in charge: Yang Qi
Editor's note:
Phase IV construction of the Golden Tax Project has officially started, and my country is moving towards the "using taxes with numbers" period. Looking at the ideas of the past financial tax project construction and the policies involving third-party invoice platforms for many years, the State Taxation Administration's attitude towards third-party electronic invoice service platforms has changed from loose encouragement to centralized control. payment institution , which has been engaged in or potentially entered the electronic invoice industry, should have sufficient sense of crisis. How to develop in the new environment requires thinking and choice.
third-party electronic invoice service platform refers to an electronic invoice service platform built by a third party for taxpayers to use in addition to self-built by taxpayers.
From the pilot promotion of electronic invoices from 2012 to 2015 to the full promotion of electronic invoices since 2016, it is inseparable from the participation of third-party electronic invoice service platforms. They have contributed to the promotion of electronic invoices in my country and industry innovation; a large number of representative third-party platforms have also emerged in the industry, such as Aerospace Information Co., Ltd. (hereinafter referred to as Aerospace Information ), UnionPay Business Co., Ltd. , etc.
Since 2015, tax bureaus at all levels in the country have successively issued policies to guide and regulate the development of third-party electronic invoice service platforms (Table 2).
Table 2 Third-party electronic invoice service platform development Related policies
Policy name | Publish time | Publish time | Main content | Publishing agency | ||||
Notice on the issue of carrying out the trial operation of the upgraded version of the VAT Invoice System Electronic Invoice | Notice on the issue of carrying out the trial operation of the electronic invoice invoice in progress | html l0 July 9, 2015 | VAT invoice system upgraded version does not change the existing electronic invoice service platform and taxpayer-side system, and only port docks for the invoice issuance part; third-party platforms have been introduced to participate in the electronic invoice business, and | State Administration of Taxation | State Administration of Taxation | |||
Guiding Opinions on Further Implementing the Implementation of VAT Electronic Ordinary Invoices | March 21, 2017 | Electronic invoice service platform is mainly built by taxpayers, and a service platform can also be provided by third-party construction. The electronic invoice service platform should provide basic services such as generation, printing, query and delivery of electronic invoice layout files for free. | State Administration of Taxation | |||||
Notice on resolutely investigating and punishing third-party tax-related services through tax reduction and fee reduction cleverly establishing a random charge | April 4, 2019 |
effectively strengthens the third party for electronic invoices Supervision and management of fees for tax-related services such as platforms, resolutely prevent the random charges and offset the effects of tax reduction and fee reduction by using the name of tax reduction and fee reduction, and ensure that taxpayers and payers should enjoy the dividends of tax reduction and fee reduction | State Administration of Taxation, National Development and Reform Commission , Ministry of Finance, State-owned Assets Supervision and Administration Commission of the State Council, State Administration for Market Regulation, State Archives | |||||
electronic invoice third-party platform management Measures | 4/15/2019 | Specify the responsibilities of third-party invoice platforms and the filing management rules | State Administration of Taxation Hainan Provincial Taxation Bureau | |||||
Electronic invoice third-party platform tax-related services management Measures (trial) | May 30, 2019 | makes detailed regulations on the services, filing procedures and filing materials provided by third-party invoice platforms | State Administration of Taxation Fujian Provincial Taxation Bureau | |||||
State Administration of Taxation Announcement of the Shandong Provincial Taxation Bureau on the registration of electronic invoice third-party platform | May 31, 2019 | Published the list of registered third-party invoice platforms, and reminded taxpayers to voluntarily choose electronic invoice third-party platform or self-built platform; for the services provided by electronic invoice third-party platform, taxpayers can voluntarily choose | html as needed 0State Administration of Taxation Shandong Provincial Taxation Bureau | |||||
Enterprise self-built and third-party electronic invoice service platform construction standards and specifications | July 22, 2019 | clarifies the business functions and services, technology, security, operation and maintenance, and other requirements for the electronic invoice service platform, and stipulates the data delivery of 54 electronic invoice service platforms. Replace information item description | State Administration of Taxation | |||||
Announcement on the access verification of enterprise self-built and third-party electronic invoice service platform | February 17, 2020 |
clarify the selection of enterprise self-built and third-party electronic invoice service platform Select the new version of tax control server as the access verification work of invoice equipment | State Administration of Taxation Shanghai Municipal Taxation Bureau |
Data source: This article compiles
Comprehensive analysis of the policies of the Taxation Bureau involving third-party invoice platforms in previous years. This article points out that the State Administration of Taxation’s attitude towards third-party electronic invoice service platforms has undergone a transformation from encouragement to centralized management.
16 year - 019 year: vigorously promote electronic invoices, and a hundred schools of thought contend with third-party platforms. At the end of 2015, the State Administration of Taxation issued the " Announcement on Implementing Issues in the Implementation of VAT Electronic Invoices through the VAT Electronic Invoice System ". The announcement essentially recognizes the role of a third-party platform, that is, the internal system development platform of taxpayers needs to participate in the electronic invoice business and cooperate with the State Administration of Taxation to carry out relevant port transformation.
From 2016 to 2019, electronic invoices entered a wide-scale promotion period. In the industry, from e-commerce and telecommunications , it gradually expanded to all industries such as insurance, retail, catering, transportation, and public utilities; in terms of geographical areas, it has also been promoted from individual pilot areas to the whole country; in terms of issuance methods, it has also changed from manual issuance to automatic system issuance and other methods. The number of electronic invoices issuing has increased year by year, from 350 million in 2016 to 11.92 billion in 2019 (Figure 1).
Figure 1
Data source: Zhiyan Consulting
During this period, the third-party electronic invoice service platform has also made great progress.From the perspective of financing , important financing of representative third-party electronic invoice service platforms in the industry occurred in 2018-2019 (Table 3).
Table 3 Third-party electronic invoice service platform Important financing time
Company name | Time | Financing round | Financing amount | Financing amount | html l0 Main investors | ||||
baiwang shares | 2019.08.25 | B round | 5 billion | 5 billion | Shenzhen Venture Capital , Oriental Fuhai | ||||
Baiwang Co., Ltd. | 2019.03.25 | A round | 517 billion | Alibaba | |||||
Shanghai Yunli | http://www.sub.com/ ml0 2019.10.10 | C round | Nearly $100 million | HKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKHKH ml3 | —— | IDG Capital, Hillhouse Capital | |||
Elephant Huiyun | 2018.06.29 | —— | —— | —— | JD Digital | ||||
HaoLing Technology | 2019.10.18 | B round | 1 billion | 1 billion | Tencent ,Chongqing Investment, IDG Capital , etc. ml3 | ||||
joint tax | 2018.12.19 | C round | —— | —— | Huasheng Tiancheng | ||||
xing cloud data gather | 2018.03.16 | angel wheel | —— | —— | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- In January 2019, the State Administration of Taxation issued the "Notice on Deeply Implementing the Policies and Measures for Tax Reduction and Fee Reduction", which made a profound explanation of the importance and measures of tax reduction and fee reduction to ensure that the tax reduction and fee reduction policies and measures take root. This post has also laid the tone for the major tax policies in recent years. In April 2019, six ministries and commissions including the State Administration of Taxation, the National Development and Reform Commission, the Ministry of Finance, the State Council State Assets Supervision and Administration Commission, the State Administration for Market Regulation, and the State Archives Administration jointly issued a document to carry out special rectification of third-party acts of random charges by using tax and fee reductions to effectively prevent any acts of random charges by using tax and fee reductions to offset the effect of tax and fee reductions. It is rare for six national ministries and commissions to issue documents jointly, which also shows the serious phenomenon of random charges for electronic invoice services on third-party invoice platforms. Just like domino effect , after the special rectification, the Taxation Bureau has successively issued more stringent third-party platform policies. From April to May 2019, tax bureaus in various provinces successively issued management measures for third-party platforms for electronic invoices, and made detailed provisions on the services, charging models, filing processes and filing materials provided by third-party invoice platforms. In addition, the Taxation Bureau will publicize the registered third-party platforms on its official website, and taxpayers will independently choose the third-party platforms in the directory to obtain electronic invoice services. In July 2019, the State Administration of Taxation issued the "Standards and Specifications for the Construction of Self-built Enterprises and Third-Party Electronic Invoice Service Platforms", which officially explained the business functions and services, technology, security, operation and maintenance, and other guarantee evaluation of third-party electronic invoice service platforms in the form of official standards to guide the compliance construction of third-party platforms. From February 2020, the tax bureaus of various provinces have successively issued the "Announcement on the Access Verification Work of Enterprise Self-Building and Third-Party Electronic Invoice Service Platforms", which has made a process and requirement explanation for the access verification work of the third-party electronic invoice service platform to select a new royalty control server as the invoice equipment, that is, the access verification work of the new royalty control equipment must be completed before the end of September, otherwise it will not be possible to continue to provide third-party electronic invoice services to enterprises. In 2021, Xin Tax Network reported that the State Administration of Taxation is building a nationwide unified electronic invoice service platform. According to reports, the State Administration of Taxation plans to build a national unified development, deployment and coordination of electronic invoice service platform at the provincial and provincial levels to support the implementation of electronic invoice reform, fully implement electronic invoices, and support the needs of 45 million taxpayers, 280 million non-enterprise users to issue electronic invoices and the use of electronic invoices for hundreds of millions of users. Judging from the direction of the Taxation Bureau's policy evolution, this news is extremely credible; if a nationwide unified electronic invoice service platform is built, it will inevitably further squeeze the market space and profit space of third-party invoice platforms. Aerospace information analysis. takes the aerospace information of typical representative enterprises in the invoice field in my country as an example. Analyzing changes in its financial report data can further verify the direction of the Taxation Bureau's policies and understand its profound impact on the development of third-party invoice platforms. Aerospace Information is one of the national designated tax control equipment providers, a comprehensive software and hardware service provider in the field of tax information, and one of the pioneers in China's electronic invoice industry. Aerospace Information provides about 100 solutions and software and hardware products such as anti-counterfeiting tax control core business products, general invoice comprehensive management systems, electronic invoice systems (Table 4). Table 4 Aerospace information |
Year | Operating income (10,000 yuan) | Revenue proportion (%) | Gross profit margin (%) | Operating income increased or decreased compared with the previous year (%) | |
2016 | 436,090.16 | 436,090.16 | 17.0 | 54.77 | -7.96 |
2017 | 477,3 00.00 | 16.0 | 53.16 | 9.45 | |
2018 | 555,600.00 | 19.9 | 55.47 | 16.41 | |
2019 | 540,619.34 | 15.9 | 52.53 0-2.69 | ||
2020 | 353,925.69 | 16.2 | 54.54% | -34.53 |
Data source: Aerospace Information Financial Report
This article uses value-added tax anti-counterfeiting tax control system and related equipment, one of its main products, as the analysis object.
In 2016, the sales revenue of aerospace information value-added tax anti-counterfeiting tax control system and related equipment was 4.361 billion yuan, a decrease of 7.96% over the same period last year. The financial report disclosed that the reason was that the national VAT general taxpayer existing users' VAT invoice system was changed from gold tax card to gold tax plates, and the price was more preferential.
In 2017, the sales revenue of the aerospace information value-added tax anti-counterfeiting tax control system and related equipment was 4.773 billion yuan, and the gross profit margin was reduced to 53.16%.The main reason for the financial report was that in 2017, the National Development and Reform Commission issued the "Notice of the National Development and Reform Commission on Reducing the Price of Products and Maintenance Services of Value-Added Tax Control Systems" (Development and Reform Price [2017] No. 1243), reducing the retail price of USB gold tax disks in special equipment for the VAT anti-counterfeiting tax control system from 490 yuan to 200 yuan each, and the technical maintenance service of the VAT tax control system has been reduced from 330 yuan per unit per year to 280 yuan.
In 2018, the revenue of the aerospace information value-added tax anti-counterfeiting tax control system and related equipment reached 5.56 billion yuan, and increased by 16.41% year-on-year compared with ; it reached the peak of phased revenue. The financial report disclosed the reasons for the first reason is that the proportion of new households has steadily increased, an increase of 2% over the previous year; the second reason is that as the country vigorously promotes electronic invoices, the 51 invoice platform, a subsidiary of Aerospace Information, has been continuously enriched in electronic invoice applications, and the platform's electronic invoice user scale and invoice number are both in the leading position in the industry.
In 2019, the aerospace information value-added tax anti-counterfeiting tax control system and related equipment achieved revenue of 5.406 billion yuan, a decrease of 2.69% over the same period last year. The main reason for the financial report is to cooperate with the implementation of the national tax and fee reduction policy, and complete the 2019 value-added tax reform tax control service upgrade guarantee work; in addition, the 51 invoice platform completes adaptation and other guarantee certification in accordance with the new specifications.
In 2020, the aerospace information value-added tax anti-counterfeiting tax control business achieved revenue of 3.539 billion yuan, a decrease of 34.53% over the same period last year; it reached a low-level revenue value. The main reason for the financial report is to actively cooperate with the implementation of the national tax and fee reduction policy.
In summary, the aerospace information electronic invoice business developed rapidly from 2017 to 2019 and reached a temporary revenue peak in 2018; however, in 2020, due to changes in national tax policies and other reasons, operating income dropped sharply. This trend of change is highly consistent with the changes in tax policy mentioned above and deserves attention from other third-party electronic invoice service platforms.
Thank you
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