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Nation's Personal Income Tax Revenue on Sharp Rise

China's personal income tax revenue in the first 10 months this year totaled 119.24 billion yuan (US$14.4 billion), up 19.3 percent over the same period of last y ear, the Economic Daily reported on Tuesday.

 

According to the State Administration of Taxation, the personal income tax revenue has been on a sharp rise in China, surging from 4.68 billion yuan in 1993 to 121.1 billion yuan in 2002. It has become one of the fastest-expanding tax categories in China.

 

The taxation departments in China this year intensified tax-collecting methods towards individual investors, in a bid to curb any form of tax evasion, the paper said.

 

The State Administration of Taxation has also started to develop a nationwide managing system especially for collecting personal income tax, the paper said.

 

(Xinhua News Agency November 25, 2003)

 

Income Gap Among Urbanites Widens Further
Distribution Reforms Help Increase Income Levels
Beijing to Raise Income Tax Cut-in Level
Threshold of Personal Income Tax to Remain
New Measures to Close Tax Loophole
Ministry Report: Raise Standard Line for Personal Income Taxation & Reduce Tax Rate
Report Suggests Income Tax Adjustment
Survey Pinpoints Personal Income Tax Evasion
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