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Shenzhen Tax Bureau, Tencent Ally on Blockchain-based Tax Management

Sina Tech, 5/24/18

The Shenzhen branch of China's State Administration of Taxation and Chinese internet conglomerate Tencent (0700.HK) recently announced that they will work together to promote tax-related technology applications, including exploring ways of using blockchain technologies for tax management to prevent fraud in invoice transfer processes.

The Shenzhen tax administration and Tencent will set up a "smart tax" innovation laboratory which will investigate blockchain-based digital invoicing solutions and other topics. The parties will work together to explore ways of applying cloud computing, artificial intelligence, blockchain, and big data technologies to develop solutions for tax management, electronic invoicing, risk diagnosis and warning, tax service optimization, and tax policy and system knowledge mapping.

Keywords: government relations Internet tax Tencent State Administration of Taxation cloud computing 0700.HK big data artificial intelligence blockchain


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