Home / World News / China regulator says should consider digital data tax for tech firms

China regulator says should consider digital data tax for tech firms

"Some third-party platform-like enterprises hold a large amount of users data, just like holding precious mineral mines," science and technology supervision bureau chief said

Several global firms missed the July 7 deadline of depositing tax, expecting that the Indian government might review the levy

Premium

Yao Qian said the value of the platform-like enterprises was created by their users, and users are supposed to share the profits with those enterprises

Reuters

2 min read Last Updated : Dec 17 2020 | 1:50 AM IST

China should consider imposing a digital tax on technology companies that hold copious amounts of user data, a securities watchdog official was quoted as saying by Beijing News, in the latest sign of widening government scrutiny of the sector.

“Some third-party platform-like enterprises hold a large amount of users data, just like holding precious mineral mines,” the government-back newspaper cited Yao Qian, science and technology supervision bureau chief at the China Securities Regulatory Commission (CSRC), saying at a forum held in Beijing.

Yao said the value of the platform-like enterprises was created by their users, and users are supposed to share the

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in