Guangzhou sees first submission of e-invoices

Three e-commerce companies have submitted electronic invoices in Guangzhou, the pilot city in Guangdong province for such practice, said Guangdong provincial office of State Administration of Taxation (SAT) on Wednesday.

JD.com, Vipshop Holdings and the e-mall of China Mobile Communication Corp issued 382 e-invoices carrying total value of 100,500 yuan ($16,363) by 5:30 pm on Monday, the launch day of the service.

E-invoices play an important role in optimizing e-commerce and help raise efficiency and reduce cost, according to the provincial office.

Companies in Guangzhou used about 900 million paper invoices issued by local offices of SAT last year, with each costing 1 to 2 yuan.

The application of e-invoices in Guangzhou started with those issued by e-commerce companies to individuals and will in the future include those issued by companies to companies and later those issued by small and medium-sized companies.