Tax Authorities to Watch Income of Beijing's Upper Bracket

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Last updated at: (Beijing Time) Monday, July 15, 2002

Tax Authorities to Watch Income of Beijing's Upper Bracket

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Individuals known to over 300,000 high-coup units falling within the upper-income bracket with over 100,000 yuan of annual income will be put under close watch according to authoritative departments of taxation in Beijing.

Also, in compliance with a new requirement set on high-coup-unit legal persons, they will have to declare their actual earnings in time in a down-to-earth manner.

"This is just a new step taken on our customary practice used with income tax collected by designated departments of related units on behalf of us tax authorities" said Wang Jiping, director of Beijing Tax Bureau when speaking about the new measures to be introduced.

To make a success Beijing's tax collection, the municipality yesterday saw to it that 400 units and 100 individuals were cited for their exemplary deeds and model work in contributing to tax collection. Seen topping the list of honor cited are Legend, the Bank of China and a number of other enterprises known in Beijing.

Income taxes by individuals in Beijing as a whole are deducted and collected by designated departments of related units on behalf of state tax authorities as learned. The revenues collected have been placed at as much as high over 91.5 percent in Beijing than a national average 84 percent level in China.

Wang said that made known to tax authorities to this day are just specific tax amounts to be deducted and collected on their behalf by related units and as to how much to be deducted or collected from specific individuals the tax departments are generally in the dark.

From October on, Beijing will in line with its measures see to it that individuals with an annual income of over 100,000 yuan will be put on file by local tax departments. Legal persons known to those of over 300,000 units will have to declare and make their income amount to tax departments.

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