Alibaba pays 33 per cent more tax in 2016

05 Jan '17

2 min read

Chinese e-commerce giant Alibaba has paid 33 per cent more tax in 2016 than in the year 2015. The company and its financial branch, Ant Financial, have paid a total of $ 3.41 billion in taxes in 2016. Alibaba’s revenue for the third quarter of 2016 was $ 5,142 million. Alibaba has also been successful in creating over 30 million jobs last year.

Alibaba Group had reported a strong revenue growth of 33 per cent in fiscal 2016, ended March 31, with 101.143 billion yuan as compared to 76.204 billion yuan in the fiscal 2015.

There are over 45,000 service providers on Taobao and Tmall, the shopping platforms of Alibaba. These service providers had registered 142 per cent growth in income year on year as of September 30 2016, according to the company.

Ant Financial provided various kinds of services to around 600 million consumers across the world by the end of 2016, according to the Chinese news agency. Alibaba has been successful in catalysing new areas of business including outsourcing of customer service, product photography, quality testing, e-shop design and recruitment and training for e-commerce.

Alibaba led traders operating on Alibaba’s platforms, upstream manufacturers and logistics companies to pay at least 200 billion yuan in taxes last year, according to the company. (RR)

Fibre2Fashion News Desk – India

More Apparel/Garments News - China...