The Shanghai Futures Exchange ("SHFE") has recently issued the Circular on Adjusting the Proportion of the Invoice Margin for the SHFE Standard Manifest Trading Platform and the Circular on Adjusting the Invoicing Deadline of Special Value-added Tax Invoices for the SHFE Standard Manifest Trading Platform (collectively as the "Circular"), both of which will take effect from October 18, 2018.
The Circular states that, with a view to better serving the development of the real economy and facilitating the effective role of service functions of standard manifest transactions, the ratio of the invoice margin for the SHFE standard manifest trading platform will be adjusted, to be specific, reduced from 20 percent to 17 percent, of the total payment for goods under a standard manifest. Meanwhile, according to the Circular, the deadline for the exchange to issue special value-added tax invoices for the SHFE standard manifest trading platform, is postponed from the 20th day of each month to the 23th day.