New extensions of fully digitized e-fapiao
We have seen many developments since China launched its fully digitized e-fapiao in November 2021. Recently, Sichuan (province) and Xiamen(city) have joined the programme as issuers of fully digitized e-fapiao. This means selected pilot taxpayers in these two regions are now capable of issuing fully digitized e-fapiao to all taxpayers in China. In light of these changes, we wanted to provide an overview of how the fully digitized process operates to date: Issuer of sales invoices: In Guangdong (exc Shenzhen), Shanghai, Sichuan, Xiamen, Inner Mongolia, pilot taxpayers in these regions should issue fully digitized e-fapiao via the government portal, which provides taxpayers with access to 24-hour online services to issue, deliver, and verify their fully digitalized e-fapiao free of charge. Receiver of purchase invoices: all taxpayers in China can accept the fully digitized e-fapiao issued from pilot taxpayers. Fully digitized e-fapiao is one of the key projects being undertaken to reform China’s Golden Tax System. For a more in-depth understanding of how this project operates, you may refer to our previous blog on fully digitized e-fapiao.