According to a statement published by the Office of the State Administration of Taxation, the Shenzhen Municipal decided to partner with Tencent Holdings, a Chinese technological company, in order to prevent tax forgeries and scams with the help of the latest fintech trend called blockchain technology.
“We hope to make every fapiao [official invoice issued by the Chinese Tax Bureau] checkable, verifiable, reliable and traceable, and use blockchain technology to manage the whole circulation process of fapiaos,” Tencent said.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/shenzhen-tax-regulator-fights-against-fake-tax-claims/
