China to Step up Taxation Among High Income Earners

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Last updated at: (Beijing Time) Wednesday, March 12, 2003

China to Step up Taxation Among High Income Earners

Vice-Minister of Finance Liao Xiaojun said Tuesday that China will go all out to strengthen the collection of personal tax among high-income earners so as to avoid tax evasion.

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Vice-Minister of Finance Liao Xiaojun said Tuesday that China will go all out to strengthen the collection of personal tax among high-income earners so as to avoid tax evasion.

The relevant government departments have mapped out and submitted policies to check the evasion of personal income tax by high-income earners, especially individual investors, the official said at a meeting on proposals set forth by members of the National Committee of the Chinese People's Political Consultative Conference.

Wang Li, chief economist of the State Administration of Taxation, said the taxation system was aimed to improve the taxation system for high-income trades and high-income earners in a bid to beef up the collection of personal income tax.

The work is being carried out assiduously and popularized across the country, especially big cities, he said.

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