A 5 percent tax on online shopping to be levied in China

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The Ministry of Commerce spokesman Yao Jian yesterday at a regular press conference revealed that the scale of e-commerce exceeded 1.3 trillion yuan (US$ 208 billion) annually, the Ministry of Commerce supports the e-commerce, and the same time Ministry of Commerce also participates actively in the development of “E-commerce Promotion Law” to regulate E-commerce businesses, especially small and medium enterprises.

Recently, some media reported that proposal of taxation on online suppliers has been adopted by the relevant ministries, and a 5 percent tax is expected to be formally levied within this year. Yao Jian said in the conference that the tax legislation shall be enacted by the relevant financial departments but the Ministry of Commerce is also doing research on the taxation in e-commerce market with the overall target to facilitate healthy development of the industry.

Source: Tencent Technology

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