Chinese province to use DLT-based electronic tax invoices for ecommerce

Friday 22 February 2019 00:32 CET | News

The Guangdong Municipal Taxation Bureau has announced that it will implement an e invoice platform based on blockchain for the e-commerce industry.

Guangdong Province, one the most populated region in China, has opened the first blockchain electronic invoice service for customers and merchants, planning to extend their experience to the large-scale e-commerce field. By using a blockchain-based electronic invoice platform, the taxation authority will reportedly improve the efficiency and transparency of the invoice services.

Back in November 2018, Guangdong Province’s capital and one of the first national economic development zones in China, Guangzhou, was selected as a headquarters for a newly established blockchain alliance, involving 54 different companies and covers blockchain technology in such areas as funds, finances and trading.

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Keywords: The Guangdong Municipal Taxation Bureau, China, platform launch
Countries: World