360° Coverage : China's personal income tax revenue slows sharply

10 Updates
China's personal income tax revenue slows sharply
Photo Credit: GERARD JULIEN, Getty Images

China's personal income tax revenue slows sharply

Feb 11 2013, 5:08am CST | by

Beijing, Feb 11 (IANS) The Chinese government saw its fiscal revenue from personal income tax drop 3.9 percent year on year in 2012, sharply down from the 25.2-percent growth seen during the previous year, according to latest data from the ministry of finance.

Beijing, Feb 11 — The Chinese government saw its fiscal revenue from personal income tax drop 3.9 percent year on year in 2012, sharply down from the 25.2-percent growth seen during the previous...

Filed under: news

YouTube Videos

 
 
 

1 year ago

China's personal income tax revenue slows sharply

Feb 11 2013, 5:08am CST | by

Beijing, Feb 11 (IANS) The Chinese government saw its fiscal revenue from personal income tax drop 3.9 percent year on year in 2012, sharply down from the 25.2-percent growth seen during the previous year, according to latest data from the ministry of finance.

Beijing, Feb 11 — The Chinese government saw its fiscal revenue from personal income tax drop 3.9 percent year on year in 2012, sharply down from the 25.2-percent growth seen during the previous year, according to latest data from the ministry of finance.

It showed that money collected from personal income tax last year totaled 582.02 billion yuan ($92.69 billion), accounting for 5.8 percent of total fiscal revenue, reported Xinhua.

The government's tax reduction measures, including hikes in exemption thresholds for personal income tax and adjustments in taxation rates, have affected the revenue, said an official from the ministry.

Price corrections in used homes also decreased the revenue from property transfer income tax last year, according to the ministry.

The data showed the tax revenue from wage-earners dropped 8 percent year on year, while that from individual business owners declined 12.5 percent. In contrast, combined revenue from income tax on interests, dividends and bonuses grew 14.7 percent.

The government raised the exemption threshold for the personal income tax to 3,500 yuan from 2,000 yuan starting September 2011, scrapping the tax for around 60 million people.

IANS

Source: IANS

 
Update
10

2 days ago

Where the 7 States With No Income Tax Get Their Money

Aug 20 2014 8:58am CDT | Source: Fool.com

With no income tax, how do these states stay afloat? Find out he ...
Source: Fool.com   Full article at: Fool.com
 

 
Update
9

3 weeks ago

Wondering how your tax bill compares with a Cleveland resident's?

Jul 30 2014 10:44am CDT | Source: Business First of Louisville

As part of a series comparing the total local and state income tax bill in Greater Cleveland with those in 10 other metro areas, Cleveland.com takes a look at Louisville's taxes today. The series lets you get specific about the comparison. Users enter their total family income, wage income, house and vehicle values, family size and marital status. Then, with the click of a button, you get a comparison between Louisville and Cuyahoga County. As it turns out, they're not much diffe ...
Source: Business First of Louisville   Full article at: Business First of Louisville
 

 
Update
8

3 weeks ago

Tax Guy: 5 steps to prepare yourself for tax season

Jul 29 2014 7:59am CDT | Source: MarketWatch

To assess your federal income tax situation for a particular year, you must take the follo ...
Source: MarketWatch   Full article at: MarketWatch
 

 
Update
7

3 weeks ago

 
Update
6

4 weeks ago

The Net Investment Income Tax And Material Participation Of Trusts and Estates

Jul 23 2014 10:00am CDT | Source: Forbes Real Time

This series of posts will discuss the key authorities that address the issue of determining material participation for trusts and estates, including the most recent authority, the Frank Aragona Trust U.S. Tax Court case. Effective January 1, 2013, Code Sec. 1411 imposes the 3.8-percent Net Investment Income Tax ( ...
Source: Forbes Real Time   Full article at: Forbes Real Time
 

 
Update
4

6 weeks ago

CSR tax issue: MCC Chamber to send representation to Centre

Jul 11 2014 8:10am CDT | Source: Business Standard

They want to know whether there was any income tax benefit on expenditure incurred on corporate social respon ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
3

6 weeks ago

Budget a ray of hope for poor and downtrodden: PM

Jul 10 2014 7:45am CDT | Source: HeadlinesToday.in

Among the big announcements in the Budget was the increase of personal income tax limit from Rs.2 lakh per annum to Rs.2.5 lakh per annu ...
Source: HeadlinesToday.in   Full article at: HeadlinesToday.in
 

 
Update
2

6 weeks ago

Income Tax Expectations: Housing loan interest deduction raised by Rs 50,000

Jul 10 2014 3:00am CDT | Source: HeadlinesToday.in

The government has extended by another year the 10-year tax holiday for the power sector, Jaitley ...
Source: HeadlinesToday.in   Full article at: HeadlinesToday.in
 

 
Update
1

6 weeks ago

Retro tax amendment to be undertaken with extreme caution: FM

Jul 10 2014 1:39am CDT | Source: Bridgeville Public Library

However, the existing tax disputes, arising out of Retrospective Amendment to the Income tax Act, 1961, and are pending in Courts, will be allowed to rea ...
Source: Bridgeville Public Library   Full article at: Bridgeville Public Library
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

blog comments powered by Disqus

Latest stories

WHO to unveil response plan for Ebola
United Nations, Aug 23 (IANS) The World Health Organisation (WHO) has said it will unveil a response plan to deal with the current Ebola virus outbreak in west Africa.
 
 
EU to fund agricultural products affected by Russia's ban
Brussels, Aug 23 (IANS) Experts of the European Union (EU) said Friday that the EU would provide additional funding for agricultural products affected by Russia's food import ban.
 
 
Irish man tests negative for Ebola virus
Dublin, Aug 22 (IANS) Laboratory test samples of an Irish man, who died after recently returning from Africa, have proved negative for Ebola virus, health authorities in Ireland said Friday.
 
 
Soyuz rocket carrying two Galileo satellites lifts off
Brussels, Aug 22 (IANS) A Soyuz rocket carrying two Galileo satellites, the fifth and sixth of Europe's Galileo global satellite navigation system, lifted off from the spaceport in French Guiana Friday, the European Space Agency (ESA) has announced.
 
 
 

Latest from the Network

Two IS militants arrested in Morocco
Rabat, Aug 23 (IANS) Two Islamic State (IS) militants, who were planning to leave for training camps in Syria and Iraq, were arrested in Morocco, the interior ministry said. The two have connections with foreign...
Read more on Politics Balla
 
Want a perfect selfie? Try this 'perfume bottle'
New York, Aug 23 (IANS) For fashion-loving teenage girls who enjoy taking selfies but do not want the world to see, Sony has launched a unique perfume bottle-look camera that can be a perfect bag accessory. The Cyber-...
Read more on Celebrity Balla
 
Talk to celebrities at Emmy Awards with Facebook app
New York, Aug 23 (IANS) Facebook has teamed up with entertainment show "Access Hollywood" to launch an app that will connect fans with their favourite celebrities in real time during the 66th Emmy Awards nights Aug 25...
Read more on Celebrity Balla
 
WHO to unveil response plan for Ebola
United Nations, Aug 23 (IANS) The World Health Organisation (WHO) has said it will unveil a response plan to deal with the current Ebola virus outbreak in west Africa. "The WHO has announced that it is working on a...
Read more on Business Balla
 
Cuban fishermen discover ancient artifacts
Havana, Aug 23 (IANS) Fishermen in Cuba's Pinar del Rio province have discovered artifacts believed to be from a 17th or 18th century shipwreck. The "important marine archaeological find" was recently discovered off...
Read more on Celebrity Balla
 
Bangladesh shot out for 77, West Windies win series
St.George's (Grenada), Aug 23 (IANS/CMC) Spinner Sunil Narine triggered an avalanche of batsmen as Bangladesh crashed to a 177-run defeat allowing West Indies to take 2-0 lead in their three-match One Day International...
Read more on Sport Balla
 
Narine warns against taking Bangladesh lightly
St. George's (Grenada), Aug 23 (IANS/CMC) West Indies off spinner Sunil Narine has cautioned against taking Bangladesh lightly following his side's crushing 177-run victory in the second One-Day International (ODI)...
Read more on Sport Balla
 
Nearly 200,000 killed since start of Syrian crisis: UN
United Nations, Aug 23 (IANS) The UN high commissioner for human rights, Navi Pillay, Friday said that more than 191,000 people have been killed in Syria between March 2011 and April 2014, saying that the ongoing...
Read more on Politics Balla
 
Atletico Madrid beat Real to lift Spanish Supercup
Madrid, Aug 23 (IANS) Atletico Madrid won the Spanish Supercup 2-1 on aggregate following a 1-0 win over Real Madrid in the second leg of the competition in the Vicente Calderon Stadium Friday night. Following a 1-1...
Read more on Sport Balla
 
Hamas attack kills boy in Israel
Jerusalem, Aug 23 (IANS) A four-year-old boy was killed Friday evening by a mortar attack on southern Israel by Hamas, authorities said. The child was killed when a mortar barrage launched from the Gaza Strip hit a...
Read more on Politics Balla