After shopping, travel and health, China’s digital revolution has the tax system next in its sights
Some tax returns can already be done on a mobile phone in a matter of minutes, while digital technology also helps authorities check that everyone is paying what they should
Imagine being able to file a tax return in minutes on a mobile phone. For Americans in particular, wrestling with the complexities of filings that often require specialist help, the idea would seem appealing.
It is appealing in China, and a reality too for some. Hua Jun, a bank worker in Shanghai, completed his 2017 tax filing in early February this year, in a few minutes and almost two months ahead of the March 31 deadline, thanks to a free filing service on internet giant Tencent Holdings’ popular messaging app WeChat.
As a second-time user, with his basic information already stored, all he had to do was verify it and add any new details and submit it to the WeChat account of the Shanghai government.
“It’s much more convenient than the traditional postal filing,” Hua said. “It’s so easy that I completed it much earlier than in previous years.”
The surging use of disruptive technologies in China has revolutionised everything from shopping to travel to health care, and now digital technology is not only simplifying the tax system for individuals but is helping businesses to control risks and the government to push forward its plan to modernise the tax system and make sure tax is paid.