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54.7bn Yuan Individual Income Tax Reported First Half of Year
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The State Administration of Taxation (SAT) lately reported China's individual income tax January to July this year to a total of 54.7 billion yuan, claiming 67.5 percent of the year's target set. Local taxation bureaus amassed 38.4 billion yuan and SAT 16.3 billion yuan, an increase of 32 percent and 132.2 percent over the same period of last year, respectively.
Great changes have taken place in China's individual income tax structure in recent years, taxes levied on salaries, income from individual industrial and commercial businessmen, interest rates, dividends and bonuses now dominate instead of mere tax levying on salaries and income from individual businessmen.
(People's Daily 08/21/2001)
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