Journal : Global Times (Chinese) Date : Author : Zhang Yugui Page No. : NA
URL : NA

Extracts:

 

The current round of global tax reform will not have much impact on China in the short term, because our country’s current corporate income tax rate is higher than the proposed 15% bottom line. On the other hand, in terms of the objects of collection, the OECD’s global minimum corporate tax rate applies only to large multinational companies with revenues of more than 750 million euros, and most SMEs in China are not among them. However, in the medium and long term, as a country with a highly developed digital industry, a number of Internet technology companies have had a worldwide influence. With the improvement of their ability to allocate resources globally, they will encounter various types of tax constraints, including digital taxes, etc. Therefore, it is recommended to build a high-standard financial system based on the actual situation of the country in the context of global supervision and cooperation on large-scale technology platforms, actively promote the sharing of antitrust information of platform technology companies under the G20 framework, strengthen forward-looking and anticipated supervision, and strengthen cooperation with the United States , The European Union, the United Kingdom, Japan and other member states to launch a digital rule standard that balances the rights and obligations of platform enterprises and establishes a new benchmark for global digital rules.

(The author is the Dean of the School of International Finance and Trade, Shanghai International Studies University)

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