China’s New ‘Reverse Invoice’ Scheme to Benefit Recycling Sector and Small-Scale Sellers

• China’s recycling sector is awaiting clarity on a new ‘reverse invoice’ scheme
• The scheme involves recycling enterprises issuing invoices to individual sellers when procuring waste materials
• This is opposite to the usual practice where sellers issue invoices to buyers
• Obtaining invoices for purchases has been difficult for domestic waste recycling companies
• The government has introduced measures to alleviate the tax burden on the recycling industry
• The ‘reverse charge invoice’ policy will help ease the tax burden on waste recycling companies
• The policy allows companies to use the invoice as a deduction voucher for income tax payments

Source: mysteel.net

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.