April, 2021
China will deepen the reform of tax collection and management to better serve market entities, according to a guideline issued by the general offices of the Communist Party of China Central Committee and the State Council.
By 2022, the country aims to make significant progress in the standardization of tax law enforcement, convenience of tax and fee services, and the accuracy of tax supervision, while building a powerful, smart taxation system by 2025. To this end, the guideline urges efforts to promote the digitalization of tax collection and management to advance the reform of electronic invoices and strengthen big-data sharing.
By 2023, tax and fee payers in China will be able to enjoy automatic data collection, calculation and filing services, and be able to verify and submit all taxation information online.
By 2025, China expects to see a deep integration of tax law enforcement, services and regulation, along with intelligent big-data applications and a universal use of electronic invoices.
The country will explore the application of blockchain technology for the collection of social insurance premiums, real-estate transactions and registration of immovable properties, while expanding its use in information sharing in relation to tax and fees.
The guidelines also calls for accurate tax supervision and more efficient tax administration by enhancing cooperation between government departments and social sectors, as well as boosting judicial protection and cross-border collaboration.
For more details, please feel free to visit http://www.gov.cn/zhengce/2021-03/24/content_5595384.htm?trs=1
