China to regulate tax payment in film industry
China's tax authority said last Friday it had ordered local authorities to reinforce tax payment and management for the film and television industry.
Companies and personnel in the sector should honestly declare and pay due taxes as required by law, the State Administration of Taxation said in a statement.
Taxpayers in the industry should stick to the actual amount when issuing value-added tax invoices, and must not issue or let others issue invoices of a false amount, the statement said.
Tax authorities will take back the tax rebate from taxpayers if the reduction they received is found to be against the rules, it added.
Local tax departments will improve tax source management in the film sector by coordinating efforts with other government organs, helping taxpayers strengthen their financial system, and improving taxation management based on different levels of risks of companies and personnel.
The administration also asked for strict implementation of tax preference policies and measures to support the healthy development of the film sector through tax management and services, the statement said.