Taobao owners to be first affected by tax ID

A researcher with the Chinese Academy of Social Sciences is suggesting many of this country's online shop owners are poised to come under more scrutiny with the creation of the new tax ID.

The tax ID, similar to a social security number in other countries, was announced last week.

Zhang Bin with the Academy says small online shop owners operating out of their home will have to pay tax once the new system is in place.

Currently, home-based Taobao owners don't pay taxes.

But with the tax ID, everyone's source of income will become taxable.

Overseas incomes will also be monitored and taxed.

The new tax ID is set to be formally introduced later this year.

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