China's Alibaba Group and its unit Ant Financial paid a total tax amounting to 51.6 billion yuan last year. It is marked as the top taxpayer among China's internet companies.
The data released by the company said that the number is equivalent to about 140 million yuan daily and it represents an increase of not less than 40 percent year-on-year. The Alibaba Group paid a total of 7 billion yuan in 2013 and it increased to 10.9 billion yuan in 2014.
The earnings announcement of the company for the third quarter of 2018 said that its reported revenue is at 117.2 billion yuan, an increase of 41 percent year on year. The core e-commerce businesses' revenue increased by 40 percent from a year ago, reaching 102.8 billion yuan. The businesses' Net profit increased by 37 percent year on year as it reaches 33 billion yuan.
Recently, Jeff Zhang, the company's chief technology officer and president of Alibaba Cloud Intelligence said that he will serve as the chairman of the company's new internal committee dedicated to technology-driven philanthropy.
According to the company, the philanthropy drive was initiated by the belief that the true power of science and technology lies in the ability to help people achieve more. According to the letter he sent to the employees of the company, the Alibaba Economy Technology Philanthropic Committee will promote the humanitarian role of science and tech, empower charitable organizations and support employees so that they can contribute to philanthropic causes.
Zhang's letter said that technology is our foundation, but we don't believe that the value of Alibaba's engineers stops there. He also said that by leveraging their understanding of their respective industries, products, and businesses, they can be a stronger force for social good than they might imagine, helping solve the biggest problems facing the world: the destruction of the environment, poverty, disease, and inequality.
Zhang added that with their strong technical capabilities comes an increased responsibility towards society. Zhang said that the hope for fulfilling the responsibility is if all of will recognize the value of technical skills and find ways to enable others to benefit from them.
According to the company, the committee was made as a continuation of the company's corporate social responsibility efforts. The company said that they will contribute 0.3 percent of their annual revenue to the Alibaba Public Welfare Foundation, which was established in 2011, to help fund their efforts of promoting environmental awareness and social responsibility.
