Taxing the Digits
China needs to take on a more active role in the application of taxes to the digital economy in order to avoid a potential “new tariff war,” forewarned Zhou Xiaochuan, the nation’s former central banker. The remarks, made during a news conference at the Boao Forum for Asia Annual Conference in Hainan Province on April 21, came in response to a new U.S. government proposal that could allow major economies to agree on uniform tax rules for digital firms.
According to Zhou, former Governor of the People’s Bank of China, China has not yet paid enough attention to the issue of taxation on digital goods and services, which have
