Key Features for Fapiao Compliance
Essential invoicing software for China must seamlessly integrate with the country's stringent fapiao system, which is mandatory for all domestic transactions. The software needs to handle both General VAT fapiao (used for B2C and non-deductible expenses) and Special VAT fapiao (for B2B transactions, allowing input VAT deduction). Crucially, it must integrate with China's Golden Tax System (GTS), the State Taxation Administration's (STA) platform for real-time invoice validation and clearance. This includes generating invoices in the required XML format, embedding dynamic QR codes, and incorporating digital signatures (often using SM2/SM3/SM4 cryptographic algorithms) for authenticity. The system should also facilitate the required 10-year minimum retention of invoices, with some accounting vouchers requiring 30 years of storage.