China regulator says should consider digital data tax for tech firms | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Tuesday
May 30, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
TUESDAY, MAY 30, 2023
China regulator says should consider digital data tax for tech firms

Tech

Reuters
16 December, 2020, 04:25 pm
Last modified: 16 December, 2020, 04:42 pm

Related News

  • China and US agree deal on audit dispute
  • China Vice Premier Liu soothes tech firms, supports overseas listings
  • Down $831 billion, China tech firm selloff may be far from over
  • New Zealand eyes Australia-style media deals with tech firms
  • Facebook, Google could lose bargaining power under upcoming US bill to help news outlets

China regulator says should consider digital data tax for tech firms

Yao 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
16 December, 2020, 04:25 pm
Last modified: 16 December, 2020, 04:42 pm
China regulator says should consider digital data tax for tech firms

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 profits with those enterprises.

"Coupons and red-pocket subsidies offered by those platforms at their early stage of developments are used more as a marketing approach," Yao said. "As the real creators of corporate value, users have not shared real benefits from revenues that have been made."

"As representatives of the public, governments should study in depth whether it's necessary for them to levy digital taxes to platform-like enterprises, just like they levy taxes on natural resources."

China has vowed to strengthen oversight of its big tech firms, which include the likes of Alibaba Group Holding and Tencent Holdings that rank among the world's largest and most valuable. Many of these companies have gathered large amounts of user data in the course of providing their services.

The use of consumer data, in particular, has become a key issue for the government, and Guo Shuqing, the head of China's Banking and Insurance Regulatory Commission, said this month that there was a need to clarify data rights as it viewed data as an economic contributor like labour and capital.

"Big Techs have de facto control over data...It is necessary to clarify data rights of different parties soon, and improve data flow and pricing mechanism," Guo said.

World+Biz

China regulator / digital data tax / tech firms

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Priority on fighting inflation, funding projects
    Priority on fighting inflation, funding projects
  • Private credit growth hits 13-month low in April
    Private credit growth hits 13-month low in April
  • DSA may scare away potential investors: UN special rapporteur
    DSA may scare away potential investors: UN special rapporteur

MOST VIEWED

  • A view of the Twitter logo at its corporate headquarters in San Francisco, California, U.S. November 18, 2022. REUTERS/Carlos Barria
    Twitter quits EU disinformation code
  • Photo: Collected
    German startup attempting to reverse death and resurrect humans
  • Selim RF Hussain. Sketch: TBS
    Invest in technology or you'll lose existence in 5-7 years: ABB chairman warns banks
  • Photo: Reuters
    Facebook owner Meta slashes business teams in final round of layoffs
  • Photo: Adobe
    On Photoshop, you can now create images with just a text prompt
  • The Apple logo is seen at an Apple Store in Brooklyn, New York, U.S. October 23, 2020. REUTERS/Brendan McDermid/
    Apple to spend billions of dollars on US-made 5G tech

Related News

  • China and US agree deal on audit dispute
  • China Vice Premier Liu soothes tech firms, supports overseas listings
  • Down $831 billion, China tech firm selloff may be far from over
  • New Zealand eyes Australia-style media deals with tech firms
  • Facebook, Google could lose bargaining power under upcoming US bill to help news outlets

Features

An exquisite symphony of flavours awaits in the heart of Old Dhaka, as this vegetarian ensemble takes centre stage, showcasing the rich heritage of traditional cuisine. Photo: Noor-A-Alam

Jagannath Bhojonaloy: Vegetarianism, the traditional way

14h | Food
Inside Airbus's mega plan to develop the aviation ecosystem in Bangladesh

Inside Airbus's mega plan to develop the aviation ecosystem in Bangladesh

16h | Panorama
How women's purchasing power is altering market dynamics

How women's purchasing power is altering market dynamics

15h | Panorama
Media companies are rushing to capture the youngest market of news consumers in the misplaced hope that this will ensure their survival. Photo: Bloomberg

News firms are too obsessed with wooing the young

15h | Panorama

More Videos from TBS

Erdogan prevails in election test

Erdogan prevails in election test

7h | TBS World
Why AB turns its focus on agri from corporate lending?

Why AB turns its focus on agri from corporate lending?

9h | Corporate Talks
Sword of Tipu Sultan sold in auction

Sword of Tipu Sultan sold in auction

10h | TBS World
Who will be the champion if rain washes out reserve day?

Who will be the champion if rain washes out reserve day?

10h | TBS SPORTS

Most Read

1
End of zero tax!
NBR

End of zero tax!

2
Photo: TBS
Energy

Wind power feeds national grid for first time Friday

3
File Photo: Mohammad Minhaj Uddin/TBS
Bangladesh

Low-cost housing planned for 4 lakh Bangabandhu Shilpa Nagar workers

4
Cenbank prints Tk70,000cr new money in 11 months to support nat'l budget
Budget

Cenbank prints Tk70,000cr new money in 11 months to support nat'l budget

5
File Photo: UNB
Bangladesh

US govt's new visa policy does not bother Bangladesh government: Shahriar Alam

6
Govt to double gain tax on land, flat registration
Budget

Govt to double gain tax on land, flat registration

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]