Tradeshift Heads to China: Getting an ICP License, Q&A and Summary Analysis [PRO]

Tradeshift Baiwang yuliufu/Adobe Stock

For technology vendors, entering new geographic markets can be as easy as hiring a handful of local employees, offering local language support and getting an office. But in the case of China, especially when the solution a firm sells touches at the very core of government VAT requirements, market entrance is many orders of magnitude more complicated. This Spend Matters PRO research series explores how Tradeshift is entering the Chinese market in partnership with Baiwang, including the process Tradeshift went through to obtain an Internet Content Provider (ICP) license, its specific (regionally customized) solution elements for the Chinese market and a summary analysis of what increasing levels of VAT and tax collection legislation will mean for multinational corporations and the e-invoicing solutions that they deploy. For background on the new Chinese VAT and tax reporting requirements, including system components and elements, please see the first installment of this Spend Matters PRO research brief.

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