Tax Sources in the Digital Economy, Data
Asian Tax Journal Vol. 22 No. 2 (2021), pp. 219-249
Abstract
The explosive growth of data in the digital economy brought about by the development of the Internet is recognized as a new resource. While platform companies such as Google, Apple, Amazon, and Facebook are growing and generating huge profits each year as the digital industry expands its share of the world, they pay little for the data collected by members of society. The MyData industry, led by the Korean government, is expected to be realized soon to exercise the ownership of data on information subjects. However, there is still a justification to pay an appropriate price for the use of unidentifiable information and industrial data. Therefore, the government will be able to secure necessary tax revenues by imposing data taxes on unidentified data in the blind spot of the MyData industry and to establish national data sovereignty by exercising control over the movement of data abroad. Data tax is a tax on IT companies that use data as their core technology for processing big data through artificial intelligence to provide necessary products or services as raw materials, but not paying reasonable data(raw materials) prices. Data tax basically plays a role in securing additional tax revenues from domestic and foreign IT companies, but it is also significant in that the income－oriented international tax system can complement what is insufficient to prevent multinational companies from evading taxes. In this study, I wanted to present reasonable ways to design and implement data tax in practice by describing specific tax requisitions as well as a multi－faceted review of the clarity, double taxation, and transferability that data taxes should have as a tax. This study also has academic implications in that it has proposed effective management measures for data use by multinational IT companies in Korea by introducing information data protection and certification systems related to data movement required for practical taxation.
Keywords
- Data tax
- MyData industry
- Information Security Management System
- consumption tax
- complementary tax
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