Alibaba Paid Over USD15 Million a Day in Taxes Last Year
Dou Shicong
DATE:  Jan 24 2018
/ SOURCE:  Yicai
Alibaba Paid Over USD15 Million a Day in Taxes Last Year Alibaba Paid Over USD15 Million a Day in Taxes Last Year

(Yicai Global) Jan. 24 -- One of China's biggest tech taxpayers Alibaba Group Holding Ltd. paid a total CNY36.6 billion (USD5.7 billion) in taxes last year as it created millions of jobs in China.

The Hangzhou-based e-commerce firm's tax payments soared 50 percent on the year and averaged over CNY100 million a day, it said in a statement yesterday. Its affiliated up- and downstream units paid over CNY290 billion over the year.

Tmall and Taobao, Alibaba's main e-commerce platforms, remained key growth drivers in the manufacturing and logistics sectors, it added, saying e-commerce has led to increased spending and bumped up taxes generated from those industries to CNY260 billion and CNY30 billion.

Alibaba and its affiliates spawned 33 million new jobs, according to data from the School of Labor and Human Resources at Renmin University. Its success has also led to a range of new professions in the e-commerce sector, such as e-commerce webcasters and data labelers.

The company set up a charity fund in December focused on alleviating poverty. It plans to invest CNY10 billion over the next five years to boost e-commerce business in poor regions.

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Keywords:   Alibaba,Tax,Employment,Tmall,Taobao