What is an all-electric invoice?

The explanation given by Hainan Provincial Taxation Bureau in State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) Province is that the fully digital electronic invoice (hereinafter referred to as the fully electronic invoice) is a brand-new invoice, which has the same legal effect as the paper invoice, does not exist in paper form, does not need media support, and does not need to apply for receiving, checking old invoices and applying for an additional edition. The face information of paper invoices is fully digitized, and multiple ticket types are integrated into a single electronic invoice. All-electronic invoices are uniformly coded nationwide and delivered automatically.

Full electronic invoice

There are also the following supplementary materials that can help us better understand all-electronic invoices:

1. What changes and challenges will enterprises face in the era of full electronic invoice?

Full electronic invoice is a new form of invoice in the era of digital economy, which conforms to the trend of digital economy. Now the country is making every effort to promote the digitalization of the industry. It is estimated that in 2025, invoices will be basically electronic in all fields, all links and all factors, and tax law enforcement, services, supervision and intelligent application of big data will be deeply integrated, efficiently linked and comprehensively upgraded.

At this important historical time node, how to make good use of this opportunity, comprehensively promote the digital upgrade and intelligent transformation of taxation, transform business and financial information into data assets, and lay the foundation for the digital and intelligent transformation of corporate finance and taxation has become an important topic for corporate financial managers.

With the implementation of the Golden Tax Phase IV system, the tax authorities will monitor the whole life cycle of enterprise tax receipts in real time, and enterprises will face deeper tax inspection risks. Cancel the face limit of all-electronic invoices and implement the scheme of "comprehensive credit management", which will dynamically adjust the invoicing according to the taxpayer's tax compliance. Once tax compliance or credit problems occur and exceed the warning line of relevant indicators stipulated by tax authorities, it may be subject to various control measures such as reducing the billing amount and suspending the billing authority.

With the advent of the era of all-electronic invoices, the number of electronic invoices will increase dramatically. Paper printing can't quickly solve the collection, association and preservation of invoice information, and the traditional invoice management process can't match the management mode of electronic invoice. Enterprises need to build the capacity of adding special electronic invoices (duplicate checking, authenticity verification, authentication, bookkeeping and filing), and reconstruct and optimize the new process of bookkeeping and filing of all electronic invoices.

At the same time, enterprises also need to strengthen their data management capabilities and big data analysis skills, give full play to the electronic information value brought by the application of all-electronic invoices as data assets, and feed it back to tax planning and fiscal compliance.

2. Coping measures of enterprises in the era of full electronic invoice

Through in-depth market research, based on the new needs of enterprises in the digital age, this paper puts forward a solution of fiscal and taxation integration to help enterprises upgrade all-electronic invoices smoothly from the whole life cycle management of invoice collection, invoice verification, invoice audit, invoice authentication, bookkeeping and filing.

Full electronic invoice collection

All-electric invoice involves complex consumption scenarios. We can deeply integrate consumption scenarios with cost control, integrate enterprise consumption resources such as air tickets, hotels, train tickets, automobiles, etc., realize centralized procurement of enterprise consumption and no advance payment for employees' consumption, and bring all processes, transactions and expense management functions involved in enterprise consumption into the platform closed-loop control, so as to realize the whole process control of expenses and the source management of all-electric invoices.

References:

1.？ People's Republic of China (PRC) State Taxation Administration of The People's Republic of China Hainan Provincial Taxation Bureau What is a full electronic invoice?

2. Yi Sheng Science and Technology Electronic Invoice Implementation | How to Deal with the Tax Age?