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China is progressing in digitalizing accounting and tax processes

|China
China

The legislation, published on May 19, 2025, introduces and outlines standardized processes for handling financial and accounting data in electronic vouchers. The electronic vouchers supported include:

  • VAT e-invoices;
  • E-receipts;
  • Transportation tickets;
  • Fiscal electronic bills, and more.

 

The vouchers must be in structured formats such as XML (Extensible Markup Language) and XBRL (Extensibl…

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