Posted by setupcompany on October 21st, 2017
Fapiao can be divided into two types of Fapiao--- General fapiao and special VAT (value-added tax) fapiao. Only the latter can be used for tax deduction and can only be applied from the general tax payer (status). Each establishment will be Small-Scale Taxpayer when it established at once, Business China can help you to apply for General Tax Payer, also called General VAT Taxpayer Status based on your business field.
Without exception, our clients after freshly incorporated his WFOE, Joint Venture or Representative Office in China, nearly all of them have questions regarding China’s Fapiao. The changing policy about Fapiao, making it even more blur. Business China will help you to clear up China's Fapiao (Invoice) system briefly.
Fapiao is a Chinese characteristic, which does not exist outside of China. In China, all business transactions are required by law to be recorded on an official receipt, which called Invoice (“Fapiao” in Chinese).
Fapiao must be printed on official receipt applied from the tax authorities, otherwise the business transaction will not be recognized by the tax authority. Hence, the company will be unable to use the expense for tax refund or deduction. Inside the company, an employee must submit official Fapiao under company name to declare expenses for reimbursement. Please aware each company is also required by law to implement business within business scope, so as the issue of fapiao.
Types of Fapiao (Invoice)
What other detailed help Business China could offer?
Also See: Business China, Tax Payer, Invoice Issue, General Tax, Tax, Fapiao, China
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