Circular of the State Administration of Taxation on Strengthening the Administration of Deposit for Invoices
Circular of the State Administration of Taxation on Strengthening the Administration of Deposit for Invoices
Circular of the State Administration of Taxation on Strengthening the Administration of Deposit for Invoices
Guo Shui Han [2006] No. 735
July 28, 2006
The state taxation bureaus and local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan,
For the purpose of enhancing the invoice administration and financial surveillance, safeguarding the tax revenues of the State, and maintaining the economic order, with the approval from the State Council, the Ministry of Finance promulgated the Measures of the People's Republic of China for the Administration of Invoices (hereinafter referred to as the Measures for the Administration of Invoices) in December 1993. It is clear that the Article 19 in the Measures for the Administration of Invoices prescribes the requirements and standards for the collection of guaranty bond for invoices: Where any entity or individual from other provinces, autonomous regions or municipalities directly under the Central Government temporarily engages in business within its jurisdiction, if it applies for obtaining invoices, the local taxation authority may require the entity or individual to provide a guarantor or a guarantee bond of no more than RMB 10,000 as calculated based on the par value limitation and amount of invoices being applied for.
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Guo Shui Han [2006] No. 735
July 28, 2006
The state taxation bureaus and local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan,
For the purpose of enhancing the invoice administration and financial surveillance, safeguarding the tax revenues of the State, and maintaining the economic order, with the approval from the State Council, the Ministry of Finance promulgated the Measures of the People's Republic of China for the Administration of Invoices (hereinafter referred to as the Measures for the Administration of Invoices) in December 1993. It is clear that the Article 19 in the Measures for the Administration of Invoices prescribes the requirements and standards for the collection of guaranty bond for invoices: Where any entity or individual from other provinces, autonomous regions or municipalities directly under the Central Government temporarily engages in business within its jurisdiction, if it applies for obtaining invoices, the local taxation authority may require the entity or individual to provide a guarantor or a guarantee bond of no more than RMB 10,000 as calculated based on the par value limitation and amount of invoices being applied for.
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