High earners to file tax returns
1 August 2002
Beijing residents earning more than Yn100,000 a year will be required to complete and submit individual tax returns to the Beijing tax bureau, Beijing Morning Post said. At present, companies deduct income tax from employees' salaries and make a monthly lump sum payment to the bureau. The new system, which will take effect in October, is intended to give the government a clearer idea who the high earners are.
The announcement was made shortly after Premier Zhu Rongji had criticised China's wealthy for evading taxes, saying that they deprived the government of muchneeded revenue. At the same time as cracking down on tax dodgers, the national government is reviewing the personal taxation system, with the aim of making it fairer.
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