vat change

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...

Less bureaucracy! No VAT general tax payer approval necessary

On February the 24th 2015, the State Council of the People’s Republic of China issued A Decision on Matters of Cancelling and Adjusting Batches of Administrative Approval Items (“the Decision”). The Decision covers 5 batches of administrative approv...