Tax collectors target high income earners
By Li Fangchao (China Daily)Updated: 2006-12-09 10:20
However, loopholes exist in the system for collecting income taxes from high earners because their sources of income are diverse, Xinhua News Agency quoted an unnamed official from the SAT Information Office as saying.
SAT Deputy Director Wang Li said the SAT estimated that there are about 250,000 people in the capital who earn more than 120,000 yuan a year.
"People who are just past the income threshold of 120,000 yuan, something like 10,000 yuan (US$1,280) per month, can be called ordinary high-income earners," said Wang Li.
The average per capita annual income of China's urban residents last year was 10,493 yuan (US$1,345).
Entrepreneurs, academic staff, entertainers and employees of foreign companies are considered to be high-income earners.
Wang Li said the SAT will hold symposiums for high-income earners to help show them how to file tax returns.
Foreigners who have stayed in the country for a whole fiscal year and who meet the income requirements should also file tax returns.
Wang Li said people would be able to file their tax returns online at www.tax861.gov.cn, through the mail or in person at their local tax bureau.
Wang Li said more than 5 million people in Beijing pay individual income tax.
Overall income tax revenue in Beijing is expected to exceed 22 billion yuan (US$2.82 billion) this year.
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