To implement the requirements of the State Taxation Administration’s pilot program for "three-flow integration" in reverse invoicing for renewable resources, ICBC Jieyang Branch recently successfully processed the first reverse invoicing transaction for renewable resource recycling with three-flow integration within its jurisdiction. As the only major state-owned commercial bank among the first batch to obtain qualifications for the State Taxation Administration’s Leqi Interconnection Platform, the implementation of this transaction marks an important breakthrough for the branch in digital bank-tax collaboration.

In renewable resource recycling scenarios, sellers of scrap materials to recycling enterprises are mostly individuals. As such individuals are not eligible to issue invoices on their own, many transactions can only be completed through private fund transfers. This not only leaves recycling enterprises facing the challenge of missing input tax documentation, but also creates risks for tax collection and administration.

The introduction of the reverse invoicing mechanism has addressed this pain point. Relying on interconnected platforms such as the "Leqi Interconnection" platform and "Recycling Cloud," it enables tax and fee payments in the name of individuals and provides recycling enterprises with integrated reverse invoicing services covering "payment + invoicing + tax payment." This realizes invoicing upon payment, tax payment upon invoicing, and treasury entry upon tax payment, ensuring compliant operations for enterprises, preventing risks of policy misuse, and supporting the sound development of the renewable resources industry.

To ensure the smooth implementation of the first transaction, the branch responded proactively and coordinated efficiently, promptly completing system parameter configuration, business process testing, and practical guidance for the enterprise. It also communicated with the enterprise on multiple occasions regarding transaction details, clarified practical operational challenges one by one, and ensured closed-loop business operations. This transaction truly realizes the integration of the information flow, fund flow, and invoice flow, removes bottlenecks in the renewable resource acquisition process, effectively improves the enterprise’s financial processing efficiency, and helps its front-end recycling network move toward compliant and scaled operations.

Going forward, ICBC Jieyang Branch will take this as a starting point, make good use of reverse invoicing, and leverage digital bank-tax integration tools to deliver effective services that benefit the public and enterprises. It will translate the effectiveness of digital services into tangible results in serving people’s livelihoods and the real economy, and continue to empower the high-quality development of Jieyang’s local real economy through digital finance.