Digital money gifts may become taxable

Tax authorities are likely to introduce new regulations on taxing individuals receiving digital red envelopes from corporations, an unnamed official source confirmed on Tuesday.

A leaked version of a document, circulated internally within the State Administration of Taxation, dated July 28, outlining the plans, was posted on the Internet on Monday.

Not officially released yet but only sent to regional tax bureaus, the source confirmed its existence but said no schedule has yet been finalized on when the document might be released to the public.