Why China plans to tax the booming digital economy
(WorldNews Asia)

BEIJING (CAIXIN GLOBAL) - Now that digital commerce accounts 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. It`s a huge and growing target for filling government coffers. In 2019, the nation`s digital economy generated 35.8 trillion yuan (S$7.35 trillion) of revenue, accounting for 36 per cent of China`s GDP, according to the China Academy of Information and Communications Technology. The digital economy has expanded much faster than the rest of...