The city of Huizhou, in China’s Guangdong Province, has announced that businesses can now use the digital yuan – China’s central bank digital currency (CBDC) – to make tax payments.
Per HZ News, a construction firm named Huizhou Puli Curtain Wall Engineering recently became the first firm in city’s Huiyang District to pay its urban maintenance and construction tax bills using the CBDC. The firm also paid a value-added tax (VAT) bill using the digital yuan….
Read More: Huizhou, China, Enables Digital Yuan Tax Payments – Is CBDC Adoption Increasing?