State Administration of Taxation of The People’s Republic of China has introduced a number of innovative tax services in the Free Trade Zone of Shanghai. In the notice published by the State Administration of Taxation, the reforms are illustrated as providing taxpayers with a simplified tax system in terms of costs and time, as well as the automatic online allocation of tax registration numbers, which will be effective instantly.
According to the new system, businesses can be able to complete tax registration, handle invoices and apply for electronic invoices using an online system. This is supposed to greatly benefit taxpayers using storage services in warehouse and lifting domestic cargo transportation services and material handling services in the Free Trade Port Area of Yangshan. Taxpayers can also be able to file their taxes and enjoy instant tax returns quarterly.
