Tax Levy and Administration News
- Nation collects 245b yuan in income tax
Date: 8-Jan-2007 Sources: (Shenzhen Daily)
THE country collected 17 percent more in personal income taxes last year surging to 245 billion yuan (US$30.63 billion), according to the State Administration of Taxation (SAT).
Analysts with the SAT attribute the increase to rising incomes. China's GDP grew by 10.7 percent in the first three quarters in 2006 during which 9.32 million people found jobs in the urban areas. The comparatively developed east coast areas such as Yangtze River Delta and Pearl River Delta contributed most to the tax revenue.
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