With important policy implementations recently being made by China’s State Administration of Taxation regarding China VAT general invoices, we felt it would be appropriate to offer a Chinese fapio (发票) refresher post — or more accurately, provide a few links to posts explaining the fapio system. The Chinese fapio is a legal receipt that serves as proof…
Read moreTag: VAT
The Notice of Overall Pilot Execution of Transforming Business Tax into Value-added Tax — titled Caishui [2016] No. 36, B2V Reform — was jointly issued by the PRC Ministry of Finance (MOF) and the State Administration of Taxation (SAT) on 18 March 2016. The circular, effective from 1 May 2016, announced the expansion of Value…
Read more