Dazhi technology invoices are fined or tax loopholes "tip of the iceberg"

Fined for non-payment of taxes, which is rare in the case of listed companies. Recently, Guangdong Dazhi Environmental Protection Technology Co., Ltd. (hereinafter referred to as "Dazhi technology") on the "environmental" concept of the halo of the proposed landing SSE Gem, however, it has been forced to pay taxes and fines for accepting false invoices, and it is also unknown whether the status of its High-tech enterprises can be maintained, thus continuing to implement the 15% income tax concession. Accept falsely open invoice fined Dazhi technology is mainly engaged in the development, production and sale of new environmental protection surface Engineering chemicals. The use of surface engineering chemicals after processing of industrial products are widely used in automobiles, machinery, electronic materials, coatings, construction, shipbuilding, aerospace and other national economic industries. Dazhi Technology predecessor Dazhi Limited in September 2009 to Yunnan Fluoride Chemical Co., Ltd. ordered 2 tons of magnesium silicate, the purchase price of 14000 yuan, freight for 1450 yuan. September 18, 2009, Dazhi Limited obtained Mengla County Puyang Transportation Co., Ltd. issued 1 "Road, inland River cargo transport industry Unified Invoice", the invoice value of 1450 yuan. May 31, 2011, Guangzhou State Taxation Bureau of Eastern Audit issued the "Tax administrative punishment decision", said Dazhi limited to obtain the above invoices by the Yunnan Provincial Bureau of Taxation Inspection Bureau confirmed the false invoice, the invoice Dazhi Limited in September 2009 to declare the deduction, and before the tax cost, Dazhi Limited so that less than 101.50 value-added tax, less than 2009 taxable income of 1348.50 yuan, less to pay the enterprise income tax 202.27 yuan. June 3, 2011, Dazhi Limited to pay the tax 303.77 yuan, paid a fine of 150 yuan, two items totaling 453.77 yuan. According to the prospectus, the sponsor believes that Dazhi limited by the aforementioned tax penalties occurred in 2011, but the violation occurred in the reporting period, the tax penalties involved in small amounts, the circumstances are not serious, is not a major violation, so the tax penalties will not be the issuer of this public offering caused substantial legal obstacles. and logistics industry insiders to the "first financial daily" said, for the logistics industry, some small companies turnover is not large, many are cash transactions, the basic need not to open value-added tax invoices to customers, if customers request their development tickets, many will have a false invoice. There are also local IRS people to this newspaper reporter said that this situation is not uncommon, so one or two tickets to explain what the problem. However, if there is evidence that the company is aware that the other party is a false invoice and accepted, the punishment may be heavier. Many of the logistics companies have no way to get the invoice, the owner of the invoice, the freight company may be "to you casually find a", so the owner is easy to get the false invoices. Other investment bankers believe that the false open invoice amount is very small, will not affect the Dazhi technology listing, but from the financial control point of view, may reflect the company has a certain loophole, for the Inland Revenue Department, it is impossible to find all the problems, this may only be the accounts of the "tip of the iceberg" empty invoices. Tax concessions or unsustainable Dazhi technology, theThe sustainability of the tax breaks is also a big risk. Company on December 29, 2008 by the Guangdong Provincial Science and technology department, such as several local government departments jointly identified as High-tech Enterprises, the company since 2008 for three consecutive years of enterprise income tax implementation of 15% of the tax rate. Dazhi Technology said, on October 13, 2011, through the qualification of High-tech enterprises to review and obtain a new High-tech Enterprise certificate, but if the national or local High-tech enterprises preferential policy changes, or other reasons that the company no longer conforms to the criteria for the identification of High-tech Enterprises, The company will not continue to enjoy the above preferential policies, the company's profitability will be affected to a certain extent. In this respect, there are insiders said, in recent years, Guangdong Province Science and Technology Office of the former director of the Li Xinghua, and other officials have been "Lok Ma", more with the scientific research funds issued and the approval of various types of enterprises, the enterprises have been "gifted" companies, the future of various preferential policies will continue, there is a certain policy risk. The company also said that the industry is the surface engineering chemicals industry, in a more adequate competitive environment, and the industry has a large number of production enterprises, low market concentration. With the development of the domestic surface engineering chemicals industry, the competition between enterprises will become increasingly fierce, the strength of scientific research is weak, the quality of products is not competitive enterprises will gradually be eliminated by the market. Due to the rapid development of surface engineering chemicals industry, the company's technical reserves can continuously adapt to market trends, can be continuously and efficiently converted into new products and obtain market recognition there is still some uncertainty. The prospectus also shows that the company's controlling shareholder, the actual controller, Mr Augustine Choi a 80.53% per cent stake in the company before the issue, and Mr Augustine Choi will still have an absolute holding position after the release. The actual control person may affect the company development strategy, the management decision, the personnel arrangement and the profit distribution and so on by exercising the voting right, if the actual control person abuses the authority, may harm the company as well as the small shareholder's benefit.