To differenitate itself from Taobao.com, Alibaba Group has changed Taobao’s Tmall.com chinese name to 天猫. Tmall is designed
China to impose stricter control of online trading
China is likely to tighten it control on the online commodity trading as a set of rules applying for a real name registration on the trading platform will be put into effect on the eve of March 15, 2010.
SinoCast reported that the soon-be -launched measures, drawn up by the State Administration for Industry & Commerce (SAIC), was in the pipeline to tighten its control over the mainland’s fledging online shopping landscape.
By the end of 2009, Taobao.com, a C2C (Consumer-to-Consumer) online platform under the family of Alibaba Group, had recorded as many as 170 million registered users.
“Generally speaking, a business registration will be followed by a tax payment in China, although the to-be-released tentative measures have not clarified an imposition of tariff,” said a market observer. Business entities in the country are asked to hand in a 17% value-added tax for transactions online, according to the Tax Law adopted in the country.
Some online commodity retailers said that they would possibly shut down their stores provided that the country imposed tax on online transaction, as the already thin profits from online trading would shrink to a large extent, according to the unconfirmed report.
China-rules-to-tighten-control-over-online-trading
Taobao.com, an e-Commerce platform founded byAlibaba Group targeted for Chinese consumers.
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