PBC Shanghai Launches Blockchain-Based Cross-Border Tax Payment System

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PBC Shanghai blockchain cross-border tax system: The Shanghai Head Office of the People’s Bank of China (PBC) has unveiled an innovative blockchain-based system for cross-border remittance and tax payments, in collaboration with the Shanghai Municipal Tax Service and the State Taxation Administration.

Transaction Volume: By the end of August, the system has facilitated tax payments totaling 1.486 billion yuan.

As global tax compliance becomes increasingly complex, such systems offer a model for integrating advanced technology into traditional financial processes.

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Article Details

Author / Journalist: Sonam Aggarwal

Category: Crypto

Markets: IndiaChina

Topics: PBC Shanghai Latest News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-13 @ 11:10:44 (1 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 398 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 22491243

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About BitcoinWorld

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News Last Updated: 10 hours ago

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