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© Reuters. Bitcoin mining firm Bitmain fined for tax violations in China
Bitmain, a crypto mining company based in Beijing, allegedly violated tax regulations in China, with the imposition of hefty fines by local authorities.
Bitmain Technologies was allegedly fined about 25 million Chinese yuan ($3.7 million) by the Beijing Municipal Bureau of the State Administration of taxes.
According to the data, Bitmain was reportedly fined on April 4, 2023, as the company failed to pay personal income taxes in accordance with China’s tax collection administration laws. The statement specifically referred to certain Bitmain employee income tax violationssalaries, bonuses, labor dividends, allowances and more.
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