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The first phase of China Golden tax is now ready!

Written by Elaine Chai on . Posted in Exact Globe

Wondering what is Golden tax system? In China, it is legally required businesses to issue Golden tax invoices using government certified tax software (known as Golden tax system). This system is a centralized monitoring system under the control of the tax authorities to reduce the incident of fraud.
Now, how does Golden tax system relates to Exact Globe Next (EGN)? EGN does not issue the invoices but generate a flat text file based on invoice history in a pre-defined format. This file later gets imported into the Golden tax system and prints the information onto a pre-formatted and pre-numbered invoice known as Golden tax invoice.
So what are the supported features in product update 405? EGN is able to assign a golden tax number to an invoice, authorize the invoice and lastly generate the flat text file. For more details on the supported features, please click here.
Wait, there is no stop yet! To further extend this functionality, some companies are required to split the golden tax invoice if the total invoice amount exceeded a certain limit or combine the invoices into one golden tax invoice if the amount is lesser than the limit. Hence, stay tune on more changes in the product update 406.

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