Home / Knowledge / News / Apparel/Garments / Alibaba pays 33 per cent more tax in 2016
Alibaba pays 33 per cent more tax in 2016
05
Jan '17
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


Interviews View All

Sanjay Yagnik, Maa Tex Speciality

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Claudia Kersten, Global Organic Textile Standard

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Marco Girola,

Marco Girola

With its commitment to innovation and deep technical expertise,...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search