China
Type of Compliance: Clearance
Document Storage Requirement: 10 years
China’s State Taxation Administration (‘STA’) introduced the special e-fapiao e-invoice system in 2020 and has been expanding the mandate regionally with the most recent expansion in January 2023. The mandate applies to businesses with a turnover above RMB 5 million per annum. Invoices contain a digital signature and QR Code.
![cropped-Logo-symbol-white-on-blue-bg-@10x-1024x1024-1.png](https://tradeshift.com/wp-content/uploads/2023/08/cropped-Logo-symbol-white-on-blue-bg-@10x-1024x1024-1.png)