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 | Wednesday, April 19, 2000, updated at 10:45(GMT+8) | ||||||||||||
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China considers taxation on internet businessChina is considering collecting taxes on Internet businesses, according to Financial Minister Xiang Huaicheng."It is difficulty to collect taxes on Internet businesses, because their operations are paperless. We are studying the issue right now," he was quoted in Shanghai Securities News as saying on Monday at the ongoing China Business Summit in Beijing. "I do not want to give up the right to collect taxes, but at the same time I would like faster development of the Internet in China," the minister added. Xiang said a delegation will be sent abroad to see how other countries formulate Internet tax policy, after which China will decide whether or not to collect such taxes. "I personally support a preferential tax policy for the Internet, which is now serving as a big stimulus to the economy," he added.
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