Why a “Tax Health Check” is important in China

1 September 2021
The official launch of the Golden Tax System Phase IV, an upgraded version of the Golden Tax System Phase III, is about to be implemented in China. The new system will not only monitor the business process of the taxation system as its former version did, but it will also monitor “non-tax” business. This means that in the near future, the Chinese tax authorities will achieve the transition from “tax management by invoices“ to “tax management by numbers”.