China should consider imposing a digital tax on technology companies that hold copious amounts of user data, said a securities watchdog official the latest sign of widening government scrutiny of the sector, reported Reuters.
“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. “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.”
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