Private Businesses Pay More Taxes in ShanghaiIn the first 10 months of the year, taxes turned over by private enterprises in the top industrial center of China amounted to over 56 billion yuan, an increase of 43 percent over the same period last year.An official of the municipality predicted that the total amount of taxes from private enterprises will reach 68 billion yuan, and will exceed 10 billion yuan in two year's time. Private businesses in Shanghai have grown fast in term of numbers and scale, and private business taxes have increased by more than 30 percent on an annual basis since 1996. Private businesses account for one-fourth of tax-paying enterprises in the city, the official said. |
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