Shanghai Collects 609 Million Yuan in Interest Tax

Shanghai collected 609 million yuan (approximately US$73.4 million) in interest tax last year, according to the latest statistics.

Since November 1999 when the country began to collect interest tax from individual depositors, Shanghai witnessed a steady increase in interest tax revenue, with more than 400 million yuan collected in the second half of last year.

The interest tax collected in Shanghai will be handed over to the state treasury as special funds for social security and other purposes.






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