The special value-added tax (VAT) invoice, also called special VAT fapiao, is an essential document used to offsett input VAT from output VAT, thereby relieving the taxpayer from VAT payment liabilities.
Traditionally, a company must obtain VAT general taxpayer status in order to be able to issue special VAT invoices. However, in August 2016, China launched a pilot program to allow small-scale taxpayers in the hotel industry to issue special VAT invoices by themselves. This pilot program has since expanded several times to include more sectors and a wider geographical scope.
Source: china-briefing.com
Latest Posts in "China"
- China’s E‑Fapiao System: A Comprehensive Guide to Digital VAT Invoicing and Compliance
- China’s New VAT Rules: Key Compliance Changes and Deadlines for Businesses from 2026
- China Updates VAT Administration: New Law, SME Enforcement, E-Commerce Relief, Import Incentives Extended
- EPPO Raids in Germany Over Suspected €1.6 Million Aluminium Customs Fraud from China
- China Clarifies SME Tax Preference Rules: New Tests Target Artificial Revenue Splitting and Abuse
