China Calls for More Targeted Approach in Crackdown on Invoicing

China’s central State Taxation Administration asked local bureaus to apply a measured, risk-assessed approach to checks on the so-called “invoicing economy,” according to a statement.

• Local bureaus should not adopt a one-size-fits-all method in halting the issuance of invoices, or cutting invoice quotas, the administration says
• The administration has instructed local bureaus ensure companies’ legitimate invoice usage for production, operations, and contract obligations
  • During the investigation of any suspected issues, companies should hand in documentation — including contracts, logistical records, labor costs, and operational expenses — in a timely manner to eliminate risks
• Companies can apply for additional invoices with ...