Crypto NewsBitcoinFines From China To Bitcoin Mining Company!

Fines From China To Bitcoin Mining Company!

Bitcoin mining company fined from China.

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The Chinese government, which has imposed a general ban on Bitcoin (BTC) and cryptocurrencies, continues its repressive attitude towards the crypto industry.

According to the news of the local news agency Sina Finance, China has recently fined Bitmain, one of the important names in the Bitcoin mining industry.

Bitmain, which produces equipment for BTC miners, has been fined 24.9687 million yuan ($3.7 million) by the Beijing Tax Office for unpaid income taxes.

Looking at the details of the fine, it was stated that Beijing Tax Office Bitmain did not act in accordance with the "Tax Collection and Administration Law of the People's Republic of China" and did not pay its taxes.

According to the statement, Bitmain did not pay personal income taxes in accordance with China's tax collection law. In particular, it was stated that Bitmain did not pay taxes on the salaries, bonuses, allowances and other income of its employees.

The Beijing tax office also noted that tax inspectors sent Bitmain a notice of certain tax violations in August 2022.

Bitmain, which was founded in 2013 by Chinese billionaire Jihan Wu, had to end its activities in China in October 2021 after the bans imposed by China in 2021.

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