New tax rules for internet platforms

The State Council, China's Cabinet, unveiled a new regulation mandating internet platform companies to regularly report tax-related information of businesses and workers operating on their platforms, in a move to ensure a level playing field for the development of the digital economy.

According to the State Council, the new rules, comprising 14 articles, require platform operators to submit identity and income information of both businesses and workers using their platforms to local tax authorities on a quarterly basis.

The regulation seeks to improve the efficiency of tax services and administration, safeguard the legitimate rights of taxpayers and ensure a level playing field in the digital economy.