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During the rapid growth phase of economic development, some of these policies gave economic development concessions:
E-commerce doesn’t need to pay taxes, and payments and remittances don’t need to pay taxes either.
For people in China who create economic value within the country,
as long as they can provide jobs, then that’s enough.
There’s even an industry that’s been dedicated to tax optimization all along.
In plain terms, it’s helping you avoid taxes.
Later on, while the economy stagnated, GDP still kept rising.
Our tax system also got improved.
Our taxes keep pace with our GPP.
First they checked the taxes of celebrities, then they checked e-commerce business owners.
After that, they began targeting some internet companies.
In recent years, they’ve started cracking down on overseas investments by people in China.
Previously, it was directed at investing in HK and US stocks; now it’s targeting those who are in China while holding assets overseas—rich people with offshore assets.
There’s also another part: those individual business owners.
They now also have to pay taxes based on their income transaction flow.
Our tax mechanism has become more and more完善.
Paying taxes is everyone’s duty.
I also want to pay taxes properly, but I’ve already lost everything. 😂