Alibaba warns of higher taxes as China tech sector crackdown widens Alibaba warns most internet companies will likely no longer enjoy the 10% preferential tax rate as China continues to rein in the sector 06 August 2021 - 17:50 Zheping Huang Rental bicycles parked in front of the mascot for the Taobao e-commerce platform near the Alibaba headquarters in Hangzhou, China, on August 2 2021. Picture: QILAI SHE/BLOOMBERG Alibaba Group Holding has warned investors that years-long government tax breaks for the internet industry will start to dwindle, adding billions of dollars in costs for China’s largest corporations as Beijing extends...