On 20 December 2020, the State Administration of Taxation (“STA”) of China has published Regulations on Optimising the Business Environment (further, the “announcement”). This announcement gives the Special VAT e-invoice the same legal effect as the paper invoice and introduces several changes to the current invoicing processes.
Geographic scope and timelines
- From 21 December 2020, Special VAT e-invoices will be allowed for issuance in 11 regions inc…