China is actively promoting electronic invoicing as a fundamental aspect of its tax reform strategy. Starting in 2020, the China Tax Bureau (CTB) has required new taxpayers in the country to adopt the Golden Tax System or Fapiao System, a B2B electronic invoicing system. Participation in the system is voluntary for other taxpayers. Over the past few months, China has extended the e-Fapiao program to various provinces nationwide, anticipating widespread adoption by 2025.
Source Edicom
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