Internet Giant Tencen Will Cooperate With The National Tax Bureau Of Shenzhen
The Chinese company Tencent, which is an Internet giant, is actively cooperating with the Shenzhen Tax Service in the use of blockchain technology, against tax evasion.
The Shenzhen National Taxation Bureau and Tencent have established the Intellectual Tax Laboratory, which will promote technological innovation related to the payment of taxes. The project will combine theoretical research with emerging technologies, such as cloud computing, artificial intelligence, blockchain, and applications for electronic accounts.
It is worth mentioning that today, in Shenzhen, the underground economy operates. For example, traders use fictitious receipts. In turn, buyers use fake documents to evade taxes and deceive their employers.
According to the general director of Tencent, Ma Huaten, the intellectual tax laboratory is already working on creating a digital account based on blockchain technology. The account will act as a legal digital receipt that serves as proof of the purchase of goods or the order of services.