The Chinese tax authorities have strengthened the management of overseas Crypto Assets income collection, clarifying the standards for determining tax residents.

According to Gate News bot, the Chinese mainland tax authorities are conducting cross-checks on residents’ foreign income through various channels such as CRS data, foreign exchange records and payment platforms. At present, although there is no clear legal definition of cryptocurrency income, the relevant tax basis is covered by provisions such as “income from property transfer” in the tax law.

According to the report, there have been cases where people who have made profits from cryptocurrency trading have been chased for taxes. This paper elaborates on the criteria for determining tax residents and the tax exemption clauses, and provides practical answers to specific questions such as on-chain labor remuneration declaration, tax verification cycle and burden of proof.

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