China will implement the electronic invoice and it is expected to begin mandating companies to adopt the invoice I 2021. Since 2020 31 regions have adopted the voluntary pilot program. The program has been promoted by the China Tax Bureau (CTB). Currently paper invoicing still exists, and the adoption of e-invoicing is voluntary.
The Chinese invoicing system is called the Golden Tax System or Fapiao System. The China Tax Bureau (CTB) oversees its development.
Source Edicom
Latest Posts in "China"
- China and Vietnam Sign Customs Cooperation Agreement to Combat Smuggling and Facilitate Trade
- China Clarifies VAT Threshold Under New VAT Law
- 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
