March 2011

New Regulation about Registered Chop Specific for Fapiao in Shenzhen

On February 25, 2011, Shenzhen Local Tax Bureau released a new mandatory regulation about fapiao management. The main content of it is that all tax payer, no matter General Tax Payer or Small Tax Payer, should stamp all kinds of fapiao with “chop specific for fapiao”. This kind of chop is no necessary for small tax payer before. And the Company’s tax ID No. should be showed on the new chop specific for fapiao.
So, all small tax payer should go to the authorized chop making shop to make another additional new chop and register it in Public Security Bureau. The new regulation was affective from March 1, 2011.
This is another disgusting rule which increases enterprise’s cost after the Impact Printer rule’s release at the end of last year. It is so different from all the other countries in the world. The importance of CHOP becomes bigger and bigger inside China, while online system and signature identification system outside China works very well. It seems the development direction in this area is going backwards.