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Taxation (Tables)

12 Months Ended

Dec. 31, 2021

Taxation

Schedule of components of income/(loss) before tax

		For the year ended December 31,
		2019				2020				2021
		(RMB in millions)
Income/(loss) before tax
Income from China operations			14,177				15,803				14,518
Income/(loss) from non-China operations			(484	)			35,016				(17,098	)
Total income/(loss) before tax			13,693				50,819				(2,580	)
Income tax benefits/(expenses) applicable to China operations
Current income tax expenses			(1,270	)			(2,201	)			(2,538	)
Deferred tax benefits/(expenses)			(533	)			719				651
Subtotal income tax expenses applicable to China operations			(1,803	)			(1,482	)			(1,887	)
Total income tax expenses			(1,803	)			(1,482	)			(1,887	)

Schedule of reconciliation of the differences between statutory income tax rate and the effective income tax rate

		For the year ended December 31,
		2019				2020				2021
Statutory income tax rate			25.0%				25.0%				25.0%
Tax effect of preferential tax rates and tax holiday			(8.1)%				(2.3)%				86.0%
Tax effect of tax-exempt entities			3.7%				(16.8)%				(143.7)%
Effect on tax rates in different tax jurisdiction			(3.9)%				(0.5)%				(2.3)%
Tax effect of non-deductible expenses			5.7%				0.5%				(13.8)%
Tax effect of non-taxable income			(1.0)%				0.0%				1.4%
Tax effect of Super Deduction and others			(13.2)%				(4.2)%				105.9%
Changes in valuation allowance			5.0%				1.2%				(131.6)%
Effective tax rates			13.2%				2.9%				(73.1)%

Summary of income tax holiday

		For the year ended December 31,
		2019				2020				2021
Tax holiday effect (RMB in millions)			1,116				1,153				2,219
Effect of tax holiday on basic net income per share (RMB)			0.38				0.38				0.71
Effect of tax holiday on diluted net income per share (RMB)			0.38				0.37				0.71

Schedule of deferred tax assets and deferred tax liabilities

		As of December 31,
		2020				2021
		(RMB in millions)
Deferred tax assets
- Net operating loss carry forwards and others			3,145				6,303
- Deferred revenues			208				553
- Inventory valuation allowance			498				575
- Allowance for doubtful accounts			382				603
- Unrealized fair value losses for certain investments			589				747
Less: valuation allowance			(4,289	)			(7,670	)
Net deferred tax assets			533				1,111
Deferred tax liabilities
- Intangible assets arisen from business combination			1,560				1,454
- Accelerated tax depreciation and others			362				443
Total deferred tax liabilities			1,922				1,897

Schedule of movement of valuation allowance

		For the year ended December 31,
		2019				2020				2021
		(RMB in millions)
Balance at beginning of the year			2,996				3,674				4,289
Additions			7,635				4,393				5,052
Reversals			(6,957	)			(3,778	)			(1,671	)
Balance at end of the year			3,674				4,289				7,670

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the income tax exemptions and reductions which have been granted by taxing authorities for a specified period, applicable term of the exemptions and reductions, estimated dollar value of tax benefits, and per share benefits.

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