Update: Chinese premier signs decree unveiling tax-related information rules concerning internet platform companies

BEIJING, June 23 (Xinhua) -- Chinese Premier Li Qiang has signed a State Council decree unveiling rules to regulate internet platform companies' submission of tax-related information.

The rules go into effect on Monday.

The rules aim to regulate the internet platform companies' submission of tax-related information of business operators and employees on their respective platforms, enhance the efficiency of tax services and management, protect the legal rights and interests of taxpayers, create a fair and unified tax environment, and promote the standardized and healthy development of the platform economy.

According to the rules, internet platform companies are required to submit the identity information of operators and employees, as well as income data for the previous quarter, to their respective tax authorities within one month following the end of each quarter.

Internet platform companies should standardize the preservation of tax-related information concerning operators and employees within their platforms, according to the rules.

Tax authorities are required to keep the acquired tax-related information confidential in accordance with the law and establish a tax information security management system.

The rules also outline circumstances under which submission is exempted and measures to reduce submission burdens.

In addition, the rules also stipulate corresponding legal responsibilities for different types of violations. ■