Posted by PTL Group
PTL Group
PTL Group has not set their biography yet
User is currently offline
on Friday, 04 August 2017
in Business in China

New regulation of issuing Chinese VAT invoice comes to effect

On May 19th, 2017, the China State Administration of Taxation (SAT) published an announcement titled, “Announcement of Matters Regarding the Issuance of Value-added Tax Invoices”.

In this announcement, it states that “from July 1 2017, a corporate purchaser needs to provide a Tax ID when obtaining a general VAT fapiao from a seller. The Tax ID should be on the VAT fapiao. If not, the VAT fapiao will not be seen as a valid tax payment receipt.” This means that corporations should exercise caution when they need issuing VAT fapiao since it appears that the SAT will monitor every corporation’s tax status.

How to Use an APP to Problem Solve around the New VAT Fapiao Rules
The Tax ID required by the new Fapiao rules contains 18 digits, which is difficult for people to remember. Fortunately for us, there are two mobile mini apps that can ease your problems: such as 发票小助手 (fapiaoxiaozhushou) in WeChat and发票管家 (fapiaoguanjia) in Alipay. When you input your company title and Tax ID into either of those mini programs, it will generate a personal QR code. This QR code then allows any seller that you need to get a Fapiao from to simply scan your QR code, which will then automatically input your information into the Fapiao quickly and without much hassle. 

How to Add Your Tax ID and Company Title to Your WeChat
1. Open the WeChat app on your phone- click on the “Discover” tab at the bottom of the screen, and then click on “Mini Programs”.
2. Click on the search bar at the top of the screen and search for “发票小助手”. Click on the program that pops up (there should only be one option) and allow to load.
3. Once program is loaded and you have agreed to all the permissions, select the type of Fapiao needed. Then, fill in company title, Tax ID, company address, telephone number, your bank’s name, and bank account number. That’s it! Hit confirm and the mini program will generate a QR code with your Tax ID stated. 
4. When you need to retrieve your QR code, you should be able to find it under the “Me” tab at the bottom of your screen. Additionally, you should also be able to forward this code to any WeChat friend. 

How to Add Your Tax ID and Company Title to Your Alipay
1. Open the Alipay app on your phone- using the search bar on the top of the home page to search for “发票管家” (fapiaoguanjia). Click on the program that pops up (there should only be one option) and allow it to load.
2. After it loads, agree to all the permissions. Then, fill in company title, Tax ID company address, telephone number, your bank’s name, and bank account number*. That’s it! Hit confirm and your program should generate a QR code you can now use when you need a Fapiao.
3. When you need to retrieve your QR code, you should be able to find it under the “Me” tab at the bottom of your screen.
* For normal VAT Fapiao, the company title and Tax ID are mandatory. For the Special VAT Fapiao, all the information is needed.

Tags: Untagged

Comments

No comments made yet. Be the first to submit a comment

Leave your comment

Guest
Guest Tuesday, 21 November 2017