Relocation to China: Fapiao Know-How
Posted by: Alzone Ang, Director, Client Services, Singapore
China is one of Cartus’ top ten destinations worldwide. While it is known for its unique history and culture, China also presents challenges for international assignees and the companies that move them there. From strict tax laws to language barriers, working successfully within China to support international assignees requires an innovative and flexible mindset.
A Unique Expense Processing Solution for International Assignees in China
When changes to China’s Value Added Tax (VAT) laws in mid-2017 put one of our clients in a difficult position to manage the increasing complexity of expense processing, they were unsure of the best course of action to rectify the issue. The new rules meant that, as Cartus was managing the expense related paperwork, international assignees had to include key information about Cartus with the Fapiao (Chinese tax invoice). Any mistakes would result in significant delays in processing the necessary funds for the assignee.
The question facing Cartus was how could we help our client’s international assignees have all the Fapiao information they needed on hand at all times without carrying around a portfolio of corporate information which was easily forgotten or mislaid?
Fortunately for our client, one of our China relocation managers had a brilliant idea – a QR code. Working closely with the client, our manager established a way to save the QR code onto the users’ WeChat profiles, making the essential corporate information available regardless of where the international assignee might find themselves.
This was an ideal solution, offering convenience, ease of use, and functionality to the assignee while keeping our client fully tax compliant at all times.
Read the full Have Done.Will Do story to understand more about the challenges an assignee might face in China, and how Cartus helps to support them. More of our Have Done. Will Do stories are available to read on cartus.com.