China Introduces Electronic Invoices for VAT Payments

China Introduces Electronic Invoices for VAT Payments

  • 9:45 pm

The State Taxation Administration (STA) of China released a report containing a list of eligible regions where taxpayers who have been newly registered may utilize electronic VAT special invoices, “e-fapiao.” This is an amendment to the formerly used system, “fapiao,” in which all VAT special invoices were submitted in paper form.

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Shanghai Tax Bureau Now Collecting Social Insurance

Shanghai Tax Bureau Now Collecting Social Insurance

  • 12:33 am

China has implemented a new social insurance collection process in which the Shanghai tax bureau is now collecting the insurance. Effective since November 1st, 2020, the Shanghai tax bureau is now collecting social insurance instead of the social bureau. It is imperative that employers are compliant and ensuring that payments are being made to the correct bureau.

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