E-invoice and easy online tax filing widened
Print Edition
SHANGHAI has widened the use of electronic invoice and simplified online tax application, the local tax bureau said yesterday.
The moves took effect from the beginning of 2016. Simplifying the online tax system is aimed at luring international talent and boosting Internet Plus development as well as encouraging innovation and entrepreneurship, the Shanghai Bureau of Local Taxation said yesterday.
The wider use of e-invoice means that both individuals and enterprises can now use them as official reimbursements from merchants and retail stores.
Previously, e-invoices were only used by e-commerce firms like JD.com and sent to individual consumers but they were not recognized as reimbursements.
The wider adoption of e-invoices, while saving costs for high-tech firms, is set to boost Internet Plus development, industry officials said.
Shanghai-based online retailer Yihaodian.com, for example, was able to cut costs by 90,000 yuan (US$13,681) each month by adopting e-invoices, according to Zheng Haiying, its tax manager.
“E-invoice greatly improves work efficiency through simplifying processes of application, delivery, storage and management as well as saves unnecessary cost,” said Zheng.
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