China collected 17 percent more in personal income taxes last year surging to
245 billion yuan (30.63 billion U.S.dollars), according to the State
Administration of Taxation (SAT).
Analysts with 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
Zhujiang Delta contributed most to the tax revenue.
According to
regulations promulgated by SAT this year, individuals with annual incomes of
more than 120,000 yuan must pay personal income tax and voluntarily declare all
of their income.
China's tax revenue from all sources hit a new high in
2006, jumping 21.9 percent year on year to 3.7636 trillion yuan, said the
SAT.
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