Special VAT invoices are printed under the supervision of People's Republic of China (PRC) State Taxation Administration of The People's Republic of China, and are only used by general VAT taxpayers. They are not only important accounting vouchers for taxpayers to reflect their economic activities, but also legal vouchers for sellers' tax obligations and buyers' input tax. It is an important, decisive and legal special invoice in value-added tax calculation and management.
The implementation of special invoices for value-added tax is a key step of value-added tax reform. Different from the ordinary invoice, it not only has the function of commercial voucher, but also requires the buyer to pay the value-added tax to the seller by indicating the tax on the invoice. It has the function of tax payment voucher. More importantly, the special VAT invoice links all the links of a product from the initial production to the final consumption, maintaining the integrity of the tax and reflecting the role of VAT.
Legal basis:
Detailed Rules for the Implementation of People's Republic of China (PRC) Tax Collection and Management Law
Article 29
Account books, accounting vouchers, statements, tax payment vouchers, invoices, export vouchers and other relevant tax-related materials shall be legal, true and complete.
The retention period of account books, accounting vouchers, statements, tax payment vouchers, invoices, export vouchers and other relevant tax-related materials is 10 year; However, unless otherwise provided by laws and administrative regulations.
Deduction vouchers should be one of the original vouchers, and the storage period is 10 year.