East China Province Reports Major Income Tax Rise

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Last updated at: (Beijing Time) Friday, September 27, 2002

East China Province Reports Major Income Tax Rise

Zhejiang Province on the east China coast levied 3.47 billion yuan (about 418 million US dollars) in income taxes from January to June this year.

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Zhejiang Province on the east China coast levied 3.47 billion yuan (about 418 million US dollars) in income taxes from January to June this year.

The volume shows a rise of 48.9 percent over the same period last year, said sources from Zhejiang Provincial Administration of Local Taxation.

Zhejiang, where the private economy has been highly developed, is now ranked fourth in China in terms of economic power. It is also one of the country's major foreign trade players.

Tighter monitoring of tax payments of key enterprises in the province and individuals who work in high-end sectors such as soccer club operators, brokers and project contractors has contributed enormously to the major income tax increase in this east Chinese province, said local officials.

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