Mars Finance News: To further optimize the business environment and enhance cross-border tax payment convenience, since February 2024, the Shanghai Head Office of the People's Bank of China, in collaboration with the Shanghai Municipal Taxation Bureau of the State Taxation Administration, has actively explored a new model for cross-border remittance tax payment. Utilizing blockchain technology, they have achieved a "one-stop" online processing of cross-border electronic tax payment services, including overseas remittance, tax payment, and treasury deposit, effectively addressing the three pain points of non-resident enterprises' cross-border remittance tax payment: "running around to different institutions," "high costs," and "difficulties in foreign exchange settlement."

As of the end of August 2024, the new model for cross-border remittance tax payment in Shanghai has accumulated tax payments of 1.486 billion yuan. The pilot banks include ICBC, ABC, and BOC in Shanghai, and the currencies involved include RMB, USD, EUR, and JPY. The tax types involved include corporate income tax and stamp duty. (Jin Shi)