fapiaos

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...
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...