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China Daily / 2021-05 / 21 / Page009

Adapting to digitalization as main value creator

China Daily | Updated: 2021-05-21 00:00

At least 10 members of the European Union, the United Kingdom and some other countries are thinking of levying a digital services tax. The basic trend is evident. Therefore, it is necessary to summarize the possible impact of a digital service tax on China.

In a bid to prevent individual countries from imposing their own digital services taxes on technology companies, and prevent the US government from imposing retaliatory tariffs, the OECD has been working with 137 countries to coordinate the collection of tax around the world.

Its latest report shows that the negotiations have already produced two possibilities, a tax collected in the places where companies do business, rather than where they are registered, or a global minimum corporate tax for the industry, the option the United States is in favor of.

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