New rule puts end to easy online profits

People in Beijing who buy and sell online must apply for a business license and declare their earnings for tax purposes, the city government said yesterday.

The Beijing Administration for Industry and Commerce (BAIC) said all corporate entities and individuals who do businesses online must register with the administration and pay taxes on their earnings from Aug 1.

Wang Jing, an official in charge of special trade with the BAIC, said such firms and individuals must provide the administration with their stores' names and IP addresses.