What are the new regulations that apply to special VAT fapiao in China?

Published on: November 2017

Under updated regulations coming into effect on July 1, 2017, more information now needs to be included on special VAT fapiao, such as the company’s tax ID code and the purpose of expenditure.

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    Foreign investors often find China’s financial system to be one of the most difficult areas to navigate when establishing or growing their presence in the country. Navigating China’s tax system, and its complexities, requires time and commitment. In this issue of China Briefing magazine, we look at the factors that make China’s tax system unique, and identify steps foreign investors can take to manage its challenges. We first examine the issues that most commonly disorient foreign investors. We then discuss the importance of pre-investment capital planning, within the context of tough foreign exchange controls, before examining the ever-maturing regulations for the transfer pricing system.

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