Do I need to pay taxes on withdrawals from MEX exchange?

MEXC exchange withdrawal does not require personal income tax in China. This is because MEXC is an overseas registered exchange, and withdrawal operations are not considered domestic income, and tax is only required when the cryptocurrency is transferred back to the domestic platform for sale.

Do I need to pay taxes on withdrawals from the MEXC exchange?

Answer: No

MEXC is an overseas-registered cryptocurrency exchange, so withdrawal operations on this platform usually do not require reporting to domestic authorities in China The tax authorities pay personal income tax.

Detailed explanation:

The standard for collecting personal income tax is based on the income obtained by individuals in China, and the MEXC exchange is located outside the country, so the withdrawal operation does not belong to domestic income. . In addition, according to Article 15 of the "Implementation Regulations of the Individual Income Tax Law of the People's Republic of China", overseas income is only subject to individual income tax when the taxpayer repatriates it to China.

It should be noted that if users transfer the cryptocurrency assets withdrawn from the MEXC exchange back to domestic exchanges or platforms for sale, this part of the income may need to be declared and paid according to relevant Chinese tax regulations.

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