Retained tax refund benefits the integrated circuit industry, and Changjiang Storage received a tax

Recently, Changjiang Storage Technology Co., Ltd. received a tax refund of 186 million yuan.

It is reported that Changjiang Storage is one of the three largest memory wafer factories in China. It is jointly invested and constructed by Ziguang Group, the National Integrated Circuit Industry Investment Fund, Hubei Integrated Circuit Industry Investment Fund, and Hubei Science and Technology Investment Group, responsible for the national memory base project.

Changjiang Storage successfully developed China's first 32 layer 3D NAND flash memory chip in 2017. According to Diao Shijing, co-president of Ziguang Group, the 32 layer 3D NAND flash memory chip of Changjiang Storage will be mass-produced in the fourth quarter of this year, and its 64 layer 3D NAND flash memory chip research and development is also underway, with plans to achieve mass production in 2019.

On August 7th, Changjiang Storage announced its breakthrough technology XtakingTM, which has been successfully applied in the development of the second generation 3D NAND product and is expected to enter mass production in 2019.

According to local media reports, from the end of July until now, Wuhan Donghu High tech Zone has handled value-added tax deduction and refund of over 1 billion yuan, with integrated circuit enterprises accounting for half of the total.

On June 27th, the Ministry of Finance and the State Administration of Taxation issued a tax refund plan, clarifying that enterprises that meet the conditions for advanced manufacturing industries such as equipment manufacturing and modern service industries such as research and development, as well as power grid enterprises, will receive a one-time refund of input tax that has not been fully deducted within a certain period of time.

Li Hui, the financial manager of Changjiang Storage, said, "Implementing a refund of retained tax amount can directly increase the current cash flow of enterprises, improve their operating conditions, increase investment in scientific and technological innovation, and assist in sustainable development of enterprises

In the first half of the year, Premier Li Keqiang held an executive meeting of the State Council to determine three measures to deepen value-added tax reform. On June 27th, the Ministry of Finance and the State Administration of Taxation issued a tax refund plan, clarifying that enterprises that meet the conditions for advanced manufacturing industries such as equipment manufacturing and modern service industries such as research and development, as well as power grid enterprises, will receive a one-time refund of input tax that has not been fully deducted within a certain period of time.