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(Translation is for reference purpose only, please refer to the Chinese official copy)



Announcement on issues relating to VAT invoices




In order to strengthen the Value-added tax invoices management, to ensure the smooth transition from Business tax into Value-added tax system, to protect legal rights of taxpayer and to provide healthy taxation atmosphere; the issuance of VAT invoices and relevant requirements are listed as below:




1.  Effective from July 1, 2017, the Enterprise Buyers are required to provide Tax Payer Identifier number or the unified social credit identifier code to Seller when they request for VAT General Invoices from Seller. The Sellers are required to fill in the Buyer’s Tax Payer Identifier number or the Unified Social Credit Identifier Code. Improper prepared VAT tax invoices will not be considered as legal tax receipts.




2. Sellers should fill in the actual Description of the Services or Goods at issuance of invoices. Sellers are not allowed to fill in the Description of the Services or Goods different from the actual consumed services or goods under Buyer’s request. Sellers’s sales operation system should connect with the VAT tax invoice system and input actual trading Description of Services and Goods. If information is not matched, Seller should fix their Sales Operation System immediately.   




State Administration of Taxation

央行于12月28日发布中国人民银行令〔2016〕第3号令,自2017年7月1日起施行新的外汇管理方法。   具体规定如下:   金融机构大额交易和可疑交易报告管理办法  

Exchange of Foreign Currency Individual Quota

New regulations on remittance to oversea effective on July 1st 2017
 New VAT invoices issuance regulations effective July 1st, 2017 



Corporate Advisory Services



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