China has made a firm commitment to e-Invoicing as the backbone of its taxation model reform. As of 2021, China Tax Bureau (CTB) has imposed on new taxpayers in the country the adoption of the new e-Invoicing system called Golden Tax System or Fapiao System. All other taxpayers may join voluntarily.
In parallel to the new Fapiao System, China has announced the launch of a second version of the current system, with important new features. So far, only the development of a couple of broadcast and reception pilot projects has transpired. We analyze all the current system’s details and the new developments announced by the China Tax Bureau.
Source: edicomgroup.com
Latest Posts in "China"
- China Extends Preferential Tax Policy for Innovative Enterprise CDRs Through 2027
- Online Sellers Must Register for Tax When Monthly Sales Reach Thresholds, Says Tax Bureau
- Key Changes and Comparative Analysis of China’s New VAT Law Implementation Rules Effective 2026
- VAT Invoice Data: 2026 Spring Festival Holiday Sees Booming, Innovative, and Green Consumer Market
- China Exempts Import Taxes on Science Education Equipment to Boost Innovation and Public Learning
