Caixin (January 19) said that with its digital commerce accounting for more than a third of its economy, China is looking for ways to more effectively tax domestic e-commerce titans like Alibaba, Tencent and Didi Chuxing. The China Academy of Information and Communications Technology has estimated that in 2019, China's digital economy generated 35.8 trillion yuan ($5.52 trillion) of revenue, accounting for 36% of China’s GDP. China’s former Vice Finance Minister Zhu Guangyao commented recently that it is time to conduct a general study of digital taxation both internationally and domestically, particularly focusing on large tech platforms and companies with large databases and huge consumer traffic. At a recent forum, Yao Qian, Chief of the Science and Technology Supervision Bureau of the China Securities Regulatory Commission (CSRC), said China should consider imposing a digital tax on tech companies to enable citizen-users to share the benefits they helped create for the internet platforms they use.
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