Compliance management is the foundation for the stable and far-reaching development of enterprises, and tax compliance, as the core link, is not only a manifestation of enterprise integrity management, but also a key path to achieve high-quality development. Wengfu (Group) Co., Ltd., the first enterprise in Guizhou Province to receive the China Industrial Award, has delivered the "report card" of the first wet purification phosphoric acid production capacity and market circulation in China, as well as the first market circulation of anhydrous hydrogen fluoride, with 30 years of compliant operation and honesty and trustworthiness. It has been awarded the title of Guizhou Province Integrity Demonstration Enterprise for consecutive years, and its tax credit rating has remained at A level, creating a "golden business card" of integrity in the phosphating industry.

Wengfu (Group) Co., Ltd. was established in 1991. After just over 30 years of development, it has formed an annual production capacity of 7.5 million tons of phosphate ore, 1.87 million tons of phosphoric acid, 3.53 million tons of phosphate compound fertilizer, 1.2 million tons of wet process purified phosphoric acid (PPA), 210000 tons of anhydrous hydrogen fluoride, 280000 tons of phosphate, and 1 million tons of other chemical products. It has become one of the five major phosphate fertilizer bases built to fill the gap of high concentration phosphate compound fertilizer in China and has made outstanding contributions to ensuring national food security.

How to turn 'integrity' into a product? The first step is to establish a strong defense line for the business department.

As for front-end departments, Wengfu Group has introduced a business front-end information review mechanism, in which professional financial personnel review the price agreement, payment method, invoice issuance requirements, and other contents of the business before procurement bidding and contract review. For specific businesses, financial links are embedded in the OA process to timely transmit tax information to the finance department, standardize tax behavior from the source, and avoid situations where tax payments are not paid in a timely manner due to information asymmetry.

In order to handle the huge tax and fee related data flow generated by its 38 wholly-owned and controlling subsidiaries, 11 participating subsidiaries, and more than 7400 employees, Wengfu Group has implemented digital transformation to improve tax management efficiency. It has launched a business finance management platform and a Baiwang system to automate daily work such as invoice issuance and data statistics, reduce manual errors, improve work efficiency, provide real-time and accurate financial information, and enhance tax compliance and transparency.

To avoid major risks caused by small loopholes, Wengfu Group actively carries out internal irregular self inspections, cross checks, inspections, etc., making tax compliance an important inspection content, and promptly discovering and rectifying problems. On the basis of basic management, Wengfu Group has taken another step of "insurance" by actively introducing external risk control audit mechanisms, fully leveraging the positive role of audit in promoting the healthy development of enterprises, maintaining business safety, and revealing risks and hidden dangers, and improving compliance management level.

In response to the tax risks identified by external supervision, Wengfu Group proactively reported the situation to the local tax authority, Fuquan Taxation Bureau. The Taxation Bureau of Fuquan City immediately held a tax enterprise symposium to gain a detailed understanding of the causes of enterprise risks, and arranged for tax officials to provide one-on-one guidance, establish a tax risk prevention and control ledger, and guide enterprises to make timely corrections. The tax department also promptly interpreted the tax credit scoring rules and re evaluation conditions to Wengfu Group, and accurately pushed error correction guidance through channels such as SMS, phone, and tax collection interactive platforms to help enterprises pay attention to and correct tax risks in a timely manner.

By strengthening the "three lines of defense", Wengfu Group has forged the integrity and quality of compliant operation, won widespread trust and respect from society, and established a good corporate image and brand value. According to the evaluation of the China Brand Building Promotion Association, the current brand value of Wengfu (Group) Co., Ltd. has reached 19.447 billion yuan.

Tax compliance plays an indispensable role in improving the market competitiveness of enterprises. The tax department will continue to deepen the collaborative governance between tax and enterprises, further improve the "best implementation plan" for tax compliance, and create a sample of compliant operation in the phosphorus chemical industry.