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Beijing Tax Bureau: Nobody Paying Virtual Currency Tax
jfdaily.com, 11/28/08
The Beijing Local Taxation Bureau recently stated that since the implementation half a month ago of a virtual currency tax policy, no individuals have voluntarily declared earnings on virtual currency. An employee at the Beijing Local Taxation Bureau stated that virtual currency tax collection does not currently have regulatory measures in place, and no new regulations will be released in the foreseeable future.
Editor's Note: The Beijing Local Taxation Bureau began accepting declarations of earnings from virtual currency transactions on Nov 10. For more background information, please see "Beijing Tax Bureau Announces Virtual Currency Tax Details", MD 11/10/08 issue.
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