The Shanghai Taxation WeChat official account has deleted articles related to "Virtual Currency Taxation."

ChainCatcher news, the Shanghai Tax Bureau's official WeChat account has deleted an article mentioning that "individuals must pay personal income tax for buying and selling virtual currencies online," for unknown reasons. The article was published a few days ago but was widely circulated on the morning of January 7.

The deleted article pointed out that according to the "Reply on the Issue of Personal Income Tax Collection for Income Obtained from Buying and Selling Virtual Currencies Online" (Guo Shui Han [2008] No. 818), individuals who purchase virtual currencies from players online and sell them at a markup are subject to personal income tax, which should be calculated and paid under the "income from property transfer" category.

Calix, the founder of TaxDAO and former tax director of Bitmain, pointed out that when the Guo Shui Han [2008] No. 818 document was issued, it was applied to game currencies, but in practice, it has now been expanded to include "virtual currencies" such as Bitcoin. However, there are currently no specific regulations regarding the tax issues related to the transfer income of Bitcoin and other virtual currencies.