Home>News Center>China
       
 

Personal income tax threshold to be raised
By Su Bei (China Daily)
Updated: 2005-07-29 06:16

In fact, South China's Guangzhou and Shenzhen have already raised the threshold to as high as 1,600 yuan (US$198).

The current personal income tax policy, introduced in 1980 and updated in 1994, is far from perfect, according to Zhang Peisen, a senior researcher with the Taxation Research Institute under the State Administration of Taxation.

For example, the highest personal income tax rate for individual salaries is 45 per cent, while that for individual company owners is 35 per cent.

"It fails to effectively collect taxes from the rich," Zhang said.

An earlier report said that China's wealthy, who account for less than 20 per cent of the total population, own more than 80 per cent of the country's bank deposits.

But they contribute less than 10 per cent to the nation's personal income tax revenue.

Economists claimed China's rich have the smallest tax burden in the world.

According to researcher Ni Hongri from the State Council Development Research Centre, salary earners rank first among China's tax-payers, because collecting taxes from them is far easier as employers debit tax straight from salaries.

Figures from the State Administration of Taxation show China collected 173.7 billion yuan (US$21 billion) in personal income tax last year, accounting for 6.7 per cent of total tax revenue.

China's personal income tax system is still in its infancy compared with foreign countries, Ni said. "The country will have to improve the system."



Fire kills 5 in Northeast China
Aerobatics show in Hunan
Final rehearsal
  Today's Top News     Top China News
 

Australia, US, Japan praise China for Asia engagement

 

   
 

Banker: China doing its best on flexible yuan

 

   
 

Hopes high for oil pipeline deal

 

   
 

Possibilities of bird flu outbreaks reduced

 

   
 

Milosevic buried after emotional farewell

 

   
 

China considers trade contracts in India

 

   
  EU likely to impose tax on imports of Chinese shoes
   
  Bankers confident about future growth
   
  Curtain to be raised on Year of Russia
   
  Coal output set to reach record high of 2.5b tons
   
  WTO: China should reconsider currency plan
   
  China: Military buildup 'transparent'
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
China scraps agricultural taxes in 2006
   
Agricultural tax to be scrapped from 2006
   
Agricultural tax to be scrapped from 2006
   
It's high time tax reform started
   
Debates to centre upon tax reforms
   
Debates to centre upon tax reforms
   
Taxes form east to pay for rural social programs
   
Survey: more than half want tax cuts
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
主站蜘蛛池模板: 成人亚洲欧美日韩在线| 欧美日韩一区二区综合| 国产免费内射又粗又爽密桃视频| 400部国产真实乱| 天天综合亚洲色在线精品| 中文字幕免费观看全部电影| 日韩在线第二页| 亚洲中文字幕久久无码| 永久不封国产毛片AV网煮站 | 极品丝袜乱系列大全集目录| 亚洲精品在线观看视频| 男男gvh肉在线观看免费| 又粗又硬又大又爽免费视频播放| 草莓视频网站下载| 国产在线精品一区二区在线看| 欧美另类xxx| 国产精品亚洲专区无码不卡| 91久久精品午夜一区二区| 壮熊私gay网站的| v片免费在线观看| 干妞网在线观看| 中文字字幕在线| 扒开老师挠尿口到崩溃刑罚| 久久久久88色偷偷| 日本免费一区二区三区最新 | 波多野结衣波多野结衣| 日本中文字幕网| 狠狠久久永久免费观看| 国产伦精品一区二区三区在线观看| 尹人久久久香蕉精品| 国语高清精品一区二区三区| baoyu777永久免费视频| 宅男66lu国产在线观看| 三级黄色录像片| 新国产三级在线观看播放| 久久人妻少妇嫩草av蜜桃| 日韩乱码人妻无码中文字幕久久 | a级毛片免费观看网站| 嫩草视频在线看| 一个人看的免费高清视频www | 亚洲欧美精品一中文字幕|