Beijing has issued its first blockchain tax bill in a pilot project for the parking lot at Hanwei International Plaza, People’s Daily, the Communist Party newspaper reported. On March 4, the Beijing municipal tax office announced that city car parks could integrate with blockchain for billing.
Parking lots are the first step in the introduction of blockchain billing in the city, and other businesses and corporate taxpayers will soon be integrated into the system. The tax office said taxpayers no longer need to ask for tax receipts in person.
Beijing wants to create a “Trinity”, that is to say to connect the tax office, issuers and payers on a single platform.
For the tax collector, there are two key advantages. First of all, to claim a parking ticket as a business expense, you need a tax invoice, which is not only inconvenient for the customer, but also takes a long time for the tax office and wastes paper. . And second, the tax collector has a parking revenue record.
In addition, as the blockchain will record all of these transactions, it becomes easier to request a tax refund.
Blockchain invoicing is not exactly new in China, and the Shenzhen tax office issued more than 10 million chain invoices at the end of last year. Shenzhen first published a blockchain invoice with the help of Tencent.
Two months ago, the Shenzhen tax office announced that it was working with Ping An to develop a smart tax model using AI, blockchain and other technologies.
Among similar initiatives, Thailand is testing blockchain to track value added tax (VAT) payments and prevent tax fraud.