What is fully digitalized e-fapiao? The fully digitalized e-fapiao is a completely new type of electronic invoice. It has the same legal effect and usage as the existing paper fapiao but has no sheets. Like other VAT electronic fapiao, it has no invoice copies (normal paper fapi...
It is important to note that although you may encounter other commercial or proforma invoices in China, they fulfill a different function than the Fapiao. Therefore, it is recommended that all foreign businesses in China understand the impact the fapiao has on the company’s tax and financial po...
TheChina-Italy Chamber of Commerceis glad to share with you a new article published by Hawksford. When doing business in China, many foreign operators may have been asked the same question by their suppliers and clients: ‘Can you issue a fapiao?’ So, what is a fapiao? How can it be ...
What it saysWhat it means Scratching the covering area, you will get the award or the words for thanks. Scratch the covered award area. You will either see the prize sum or "thanks". Notice: Before encash the award, don't separate the award area from the invoice. Otherwise, you can'...
What is an E-Fapiao? An e-fapiao is equivalent to the conventional paper fapiao, in that it is used for the same purpose and is supervised by tax authorities. However, because of its digital nature, it comes with the added benefits of being easy to store, easy to search for at a la...
In most countries, you get a receipt or an invoice when you purchase a product or service. It’s the same in China, you get aFapiao (发票).However, it’s not only a receipt as it serves a greater purpose. So, what is a Fapiao and will you get one from paying tuition fees for ...
PTL Group has more than two decades of experience providing accounting services in China and more financial services in China. Our local experts on the ground provide vital support in meeting the financial needs of international companies in China. We provide financial reporting in accordance with Ch...
What is fapiao? Simply speaking, fapiao is a mechanism brought into place by Chinese government to capture business transactions in the economy to ensure tax collection. It is materialized in a form of paper receipt as a proof of business transactions. There used to be many types of fapiaos ...
Fapiaosare accordingly very important as manually time consuming receipts that need to be carefully monitored when preparing corporate petty cash or accounts. Misuse is rife in China, and staff submittingfapiaosfor expense claims should be fully aware of what is and what is not an acceptablefapiao...
If expatriate business owners or managers are asked what is the most troublesome stuff that brings confusions and difficulties in China, 1 out of 4 persons would probably tell it is ‘fapiao’. Simply speaking, fapiao is actually a mechanism capitalized on by Chinese government to capture, track...