Recently, Xiamen Tax Service, together with the Xiamen Central Branch of the People’s Bank of China(PBOC), launched a pilot project on electronic collection of cross-border taxes and fees, and took the lead in implementing the pilot business of cross-border tax and fee payment in foreign currency under the guidance of the State Treasury Bureau of the PBOC Headquarters and on the basis of the pilot of the new model of cross-border tax and fee payment in the previous period.

Prior to this, cross-border tax and fee payment in foreign currency was mainly applicable to overseas taxpayers who did not open domestic bank accounts and did not sign entrusted deduction agreements, and it was time-consuming and laborious for taxpayers to travel to and from tax authorities, banks and the State Treasury with payment letters.

The applicable subjects of business scenarios of the pilot cross-border tax and fee payment in foreign currency expand from non-resident enterprises to all types of taxpayers, and the scope is expanded from payment accounts from UnionPay to all types of offshore accounts. With the help of the horizontal networking system of the Treasury and Bank, the time limit for tax payment is compressed to within 2 working days, which is 60% shorter, and the procedure can be completed on the same day at the earliest.

It is reported that the Xiamen Tax Service will join hands with the Xiamen Central Branch of the People’s Bank of China and other departments to continuously expand the scope of the pilot scheme, further optimize the pilot scheme of cross-border payment and refund, enhance the service level of tax and payment, ensure the safe and efficient entry into the Treasury of taxes and fees, and continuously optimize the business environment.