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News

State Administration Of Taxation Pilots Digital Renminbi Tax Payment, Collects 25.9 Billion Yuan In Taxes And Fees

June 14, 2023 - Around 3 mins mins to read

Key Points:

  • State Administration of Taxation in China pilots digital renminbi tax payment, collecting 25.9 billion yuan in taxes and fees this year.
  • The initiative aims to create a convenient and efficient tax business environment, with 96% of tax matters and 99% of tax declarations now accessible online.
The Chinese State Administration of Taxation is testing digital renminbi for tax payments. The tax department wants to develop non-contact services and add intelligent features to simplify tax business.
State Taxation Administration Pilots Digital Renminbi Tax Payment, Collects 25.9 Billion Yuan In Taxes And Fees

The State Administration of Taxation in China is taking steps towards digital transformation by piloting the use of digital renminbi for tax payments. With a focus on creating a convenient and efficient tax business environment, the tax department aims to expand non-contact services and introduce intelligent features to streamline processes. This year alone, a total of 25.9 billion yuan in taxes and fees have been paid through the digital renminbi system, marking a significant milestone in digitizing tax payments.

Shen Xinguo, the Director of the Tax Service Department of the State Administration of Taxation, highlighted the organization’s commitment to accelerating the adoption of intelligent tax processing during a regular policy briefing. The primary goal is to enhance the ease and efficiency of tax-related activities, benefiting both taxpayers and the administration.

State Taxation Administration Pilots Digital Renminbi Tax Payment, Collects 25.9 Billion Yuan In Taxes And Fees

To achieve this, the tax department has expanded the range of non-contact services available, including piloting functions like “smart pre-filling” for value-added tax refunds and “free of filling and reporting” for export tax rebates. Currently, 96% of tax matters and 99% of tax declarations can be handled online, enabling taxpayers to conveniently manage their obligations without physical visits.

Moreover, the introduction of digital renminbi for tax payment is a significant development in the tax landscape. This year alone, approximately 12,000 taxes and fees worth 25.9 billion yuan have been successfully paid through the digital renminbi system. This pilot program not only demonstrates the government’s commitment to digitalization but also provides a more secure and efficient method for taxpayers to fulfill their financial obligations.

In addition to digitizing tax payments, the State Administration of Taxation has been actively innovating collection and interactive services. Through intelligent responses and three-party video interactions, taxpayers are guided in resolving online tax payment issues. This year, interactive services have been provided approximately 1.48 million times, showcasing the commitment to supporting taxpayers throughout their tax payment journey.

As the State Administration of Taxation continues its digital transformation efforts, the use of digital renminbi for tax payments represents a significant milestone. With increasing convenience, efficiency, and security, taxpayers can expect a smoother tax payment experience while contributing to the advancement of digitalization in China’s tax system.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

News

State Administration Of Taxation Pilots Digital Renminbi Tax Payment, Collects 25.9 Billion Yuan In Taxes And Fees

Key Points:

  • State Administration of Taxation in China pilots digital renminbi tax payment, collecting 25.9 billion yuan in taxes and fees this year.
  • The initiative aims to create a convenient and efficient tax business environment, with 96% of tax matters and 99% of tax declarations now accessible online.
The Chinese State Administration of Taxation is testing digital renminbi for tax payments. The tax department wants to develop non-contact services and add intelligent features to simplify tax business.
State Taxation Administration Pilots Digital Renminbi Tax Payment, Collects 25.9 Billion Yuan In Taxes And Fees

The State Administration of Taxation in China is taking steps towards digital transformation by piloting the use of digital renminbi for tax payments. With a focus on creating a convenient and efficient tax business environment, the tax department aims to expand non-contact services and introduce intelligent features to streamline processes. This year alone, a total of 25.9 billion yuan in taxes and fees have been paid through the digital renminbi system, marking a significant milestone in digitizing tax payments.

Shen Xinguo, the Director of the Tax Service Department of the State Administration of Taxation, highlighted the organization’s commitment to accelerating the adoption of intelligent tax processing during a regular policy briefing. The primary goal is to enhance the ease and efficiency of tax-related activities, benefiting both taxpayers and the administration.

State Taxation Administration Pilots Digital Renminbi Tax Payment, Collects 25.9 Billion Yuan In Taxes And Fees

To achieve this, the tax department has expanded the range of non-contact services available, including piloting functions like “smart pre-filling” for value-added tax refunds and “free of filling and reporting” for export tax rebates. Currently, 96% of tax matters and 99% of tax declarations can be handled online, enabling taxpayers to conveniently manage their obligations without physical visits.

Moreover, the introduction of digital renminbi for tax payment is a significant development in the tax landscape. This year alone, approximately 12,000 taxes and fees worth 25.9 billion yuan have been successfully paid through the digital renminbi system. This pilot program not only demonstrates the government’s commitment to digitalization but also provides a more secure and efficient method for taxpayers to fulfill their financial obligations.

In addition to digitizing tax payments, the State Administration of Taxation has been actively innovating collection and interactive services. Through intelligent responses and three-party video interactions, taxpayers are guided in resolving online tax payment issues. This year, interactive services have been provided approximately 1.48 million times, showcasing the commitment to supporting taxpayers throughout their tax payment journey.

As the State Administration of Taxation continues its digital transformation efforts, the use of digital renminbi for tax payments represents a significant milestone. With increasing convenience, efficiency, and security, taxpayers can expect a smoother tax payment experience while contributing to the advancement of digitalization in China’s tax system.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Chubbi

Coincu News

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