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With the launch of China Golden Tax Phase IV, system warnings occur frequently, and these indicators deserve extra attention

Published: 2024-05-09 16:41

In 2023, China Golden Tax Phase IV went live in 15 pilot cities including Chongqing and Sichuan. As for the number of its risk points, some say more than 300, while others say more than 200. In 2024, China Golden Tax Phase IV will officially go live nationwide, especially regarding enterprises' account conditions for the previous three years. So what are the specific important points?

1.The new electronic tax bureau system is expected to go online in June or August 2024, and some enterprises may already be using it. One notable point is that finance personnel now need to fill in the four characters "true" and "responsible" when issuing invoices, which means a lifetime accountability system is implemented—whoever issues the invoice is responsible. Therefore, all finance personnel must act prudently and strictly control the process.

2.The system currently has three warning mechanisms, respectively usingRed, yellow, blueRepresented by three colors. The meanings of each are analyzed in detail below.

Red:This is the highest risk level warning, meaning the entire system is locked and invoicing is completely impossible. The severity of the consequences can be illustrated with an example. Suppose Company A is a construction company that has undertaken a 50 million yuan project, and the project is 80% complete, and it is now preparing to settle payment with the client. Settlement requires invoicing, but at this time the system is in a locked state, and unlocking requires tracing and the time is uncertain... Is this not extremely serious!

Yellow:When a yellow warning appears in the system, it means that we may have received, or our upstream and downstream enterprises may have, certain risk points. At this time, finance personnel need to confirm the business authenticity of the business or the received invoices.

Blue:When this color warning appears, it may mean that some of our actions could trigger the warning mechanism, and we only need to pay more attention. Current algorithms are centered on big data, and traditional experience may inevitably deviate in some aspects. The most common include "time factors," "personnel change factors," and "regional difference factors," all of which may cause data deviations.

Source: internet

Beijing Kailing Technology Co., Ltd.——an enterprise business-finance-tax digitalization solution service provider.

Kailing Technology provides solutions for sales management systems, procurement management systems, output invoicing systems, input invoice collection systems, imaging management systems, financial posting systems, electronic accounting archives, fully digitalized e-invoice and Leqi interfaces and other businesses according to enterprise needs, professionally and efficiently helping enterprises transform and upgrade their business-finance-tax digital management.

If you have any business-finance-tax digital transformation needs, welcome to contact us. Beijing Kailing Technology will serve you wholeheartedly.

With the launch of China Golden Tax Phase IV, system warnings occur frequently, and these indicators deserve extra attention

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Common Questions

After the launch of China Golden Tax Phase IV, what should finance personnel pay attention to when issuing invoices?

Finance staff must fill in the four characters "true" and "responsible" when invoicing, implementing a lifetime accountability system, meaning whoever issues the invoice is responsible. Must act cautiously and strictly control, otherwise facing serious consequences such as system lockout.

What do the red, yellow, and blue alerts of China Golden Tax Phase IV represent respectively?

A red alert is the highest risk level; the system locks and invoicing is impossible, and unblocking requires tracing with an uncertain timeframe. A yellow alert indicates that the enterprise itself or upstream/downstream enterprises may be at risk, requiring confirmation of business authenticity. A blue alert indicates that certain behaviors may trigger an alert, and extra attention is sufficient.

What serious consequences will be caused by a China Golden Tax Phase IV system alert?

A red alert causes a system lock, making invoicing completely impossible. For example, when a construction company has completed 80% of a project and needs to settle and invoice the client, the system locks, and the unblocking time is uncertain, severely affecting the enterprise's cash flow and project progress.

After the launch of China Golden Tax Phase IV, what risk points should enterprises pay attention to?

Attention should be paid to the launch time of the new electronic tax bureau system (expected June or August 2024), the lifetime accountability system for invoicing, the red-yellow-blue warning mechanism, and common issues that may cause data deviations, such as timing factors, personnel changes, and regional differences.