Tag: China VAT

China business: understanding ‘fapiao’ and the taxation invoice system

In China, the invoice — or fapiao (发票) — is an essential component of the State Administration of Taxation (SAT). In accordance with the Administrative Measures of the People's Republic of China for Invoices (revised in 2010), invoices refer to the certificate of payment or receipt of money made or received in purchases and sales…

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