M&T Lawyers was interviewed by Accounting Messenger on reform from business tax to value-added tax(VAT)

The senior partner of M&T Shi Zhiqun said enterprises may make full use of tax policy to ease the burden on taxation. He suggested that enterprises should put more emphasis on the changes of tax policy and ensure the input can be deducted as far as possible by cooperating with companies which may issue special VAT invoices.
There are some new challenges arising from the new policy, for example, there may be no perfect system to apply on the new business. For the issue, Mr. Shi suggested, first, tax authority should make further research to improve the system and make it interoperable. Second, strengthening the training for the tax officials to instill the thought of taxpayer enjoying tax credit and deduction. Third, tax authorities should intensify supervision and inspection of invoice management.