Fapiao

New in 2019: All Small-scale VAT Taxpayers Can Now Issue Special VAT Invoices by Themselves

Many smaller business falling into the category of so-called small-scale taxpayers will from now on be able to issue Special VAT Invoices (also known as Special VAT Fapiaos). Special VAT Fapiaos are the only receipts officially recognized for tax ded...
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Video: E-Fapiao – Understanding Advances In Fapiao Technology

Managing fapiao, or tax receipts, is an essential part of doing business in China. In this video, we will explain the purpose of the fapiao system, as well as explain how the e-fapiao technology can have an impact on your business operations.
Social Credit System China

China’s Social Credit System and Taxes

The Chinese government is pushing ahead with its social credit project, which evaluates the trustworthiness of every citizen and company using a points system. The aim is to record, evaluate, reward or sanction desired and undesirable behavior. Al...

China to launch Tsunami-like Tax Inspection of False Special VAT Fapiaos

After the recent changes regarding Fapiaos, the Chinese government has now launched a massive campaign to root out fake and falsely claimed Special VAT Fapiaos.   Already in February, Chinese tax authorities had issued an annual work plan (Shuizong...

Common Mistakes, and how to Avoid Them

Some of the most common mistakes our clients make, and how they can easily be avoided While every case we deal with is unique, some mistakes are more common than others. We recently audited a client’s Chinese branch and found some very common, and a...

New Regulations for Fapiaos

China’s State Administration of Taxation (SAT) has published new regulations for collecting fapiaos. Beginning from 1 July 2017, taxpayers need to provide their tax identification number (TIN) for obtaining a fapiao. Under the new regulation, more...
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The Importance of Chops in China

Everyone who has ever been involved in a business activity in China has certainly come into contact with the peculiar red mark on every document: the chop. The chop is the Chinese equivalent of a signature in the Western Hemisphere and it is the ulti...
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VAT in China Part 4

When a foreign invested company in China is lacking on money, the foreign headquarter often would like to transfer cash in order to keep the liquidity. However, what sounds like an easy bank transfer, in reality, turns out to be a complex subject. In...
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VAT in China Part 1

Fapiaos The Chinese VAT system is similar in many aspects to most Western country´s VAT systems. Who is well familiarized with the international standards, often also knows the right procedure in the Chinese system. In both cases the VAT will be cha...
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VAT in China Part 2

Importation VAT Same as for the EU, in China apart of the selling of products, the import of products is also subject to VAT. In opposite to the normal VAT this so called Importation VAT is an excise tax which is subject to the custom tax law. There...