By China Briefing
Editor: Jake Liddle
Word Count: 350

From July 1, 2017, the State Administration of Taxation (SAT) has mandated that corporate tax identification numbers will be required in addition to company name in order to issue general fapiao or special VAT fapiao.

In reaction to the new requirements for fapiao issuance, WeChat has launched a new function that allows users to input relevant corporate tax information, and present it to service providers to issue fapiao.

Tammy Tian, Corporate Accounting Services Manager at Dezan Shira & Associate’s Beijing office says: “We advise all of our clients to familiarize themselves with this mini app, it’s a great way to save time when asking for a fapiao.”

WeChat’s new function, titled ‘My Receipt Payee Title’, can be found under the ‘Me’→‘My profile’ section of the instant messaging app, where corporate tax information can be input and stored for future use.

The following fields are required to be filled out:

  • Company name*;
  • Tax identification code;
  • Company address*;
  • Mobile phone number;
  • Registered bank branch*;
  • Bank account number.
    * Please note these fields must be provided in Chinese.

Once the relevant information is filled out, a QR code is generated and included on a ‘card’, which can be scanned by service providers to quickly and efficiently issue a fapiao with the correct information.

What’s more, once completed, the tax information ‘card’ can be shared with colleagues and saved into their personal information section for further use. This can be done by going to the ‘Discover’ section of WeChat, entering the ‘Mini Programs’ manager, and selecting the ‘Fapiao Helper’ (‘发票小助手’) program. Inside, the tax information is listed, and in the top right hand corner, from the drop down menu, the information can be forwarded to individual WeChat contacts or groups.

The WeChat’s Fapiao Helper function makes for a quicker and more effective transaction when requesting a fapiao, removing human error arising from manual input of tax information, which leads to invalid fapiao.

“Tax and accounting teams should consider sharing this app with their colleagues; it will remove some of the guesswork from the new fapiao requirements.” Tian added.

This article was first published on China Briefing.
Since its establishment in 1992, Dezan Shira & Associates has been guiding foreign clients through Asia’s complex regulatory environment and assisting them with all aspects of legal, accounting, tax, internal control, HR, payroll, and audit matters.
As a full-service consultancy with operational offices across China, Hong Kong, India, and ASEAN, we are your reliable partner for business expansion in this region and beyond.

For inquiries, please email us at info@dezshira.com.
Further information about our firm can be found at: www.dezshira.com.