Fapiao

VAT Update China

Companies benefit from the new VAT Tax System Upgrade

Already since the beginning of this year, the Chinese government has promoted the upgraded version of the Value Added Tax (VAT) Invoice System, also called the “fapiao” system. A comprehensive and nationwide implementation of the newly recognized Gen...

Attention: Foreigners’ tax payments getting checked!!!

Tax authorities have put a focus on foreigners’ Individual Income Tax (IIT) payments! Beijing tax officials are currently conducting random checks on past tax filings and forcing companies to make self-inspections. These include not only the regular ...