Shenzhen Personal Income Tax Ranks First in Growth RateWith the fast development of economy in Shenzhen, the resident income of this city rises quickly too. The latest data provided by Shenzhen Tax Office shows that the growth rate of Shenzhen personal income tax ranks the first in China.From January to May, personal income tax in Shenzhen generates 1.1 billion yuan in fiscal revenue. The ratio of personal income tax to local taxes also rises gradually, ranking the third in various types of taxes, thus closing the gap with that of the enterprise income tax ranking at the second place. Compared to the personal income revenue of 0.48 billion yuan of the year 1995, this figure has almost increased five times, hitting over 2.2 billion yuan and accounting for 17% of the total local tax revenue. Last year, the total personal income tax revenue of Shenzhen ranks the fifth in China after Shanghai, Beijing, Guangdong and Jiangsu, its ratio to the local tax revenue ranking the third, and the growth rate of it the first in the country. Among the wage earners, the personal income tax payers are mostly the professionals engaged in financial, insurance, and securities industries. |
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