China reports 88b yuan of individual income tax in 1st half

According to the latest statistics released by the State Administration of Taxation, China has collected a total of 88.118 billion yuan (about 10.7 billion US dollars) of individual income tax in the first half of 2004.

Compared with the same period of 2003, the revenue has increased 15.056 billion (about 1.8 billion US dollars) or 20.6 percent.

In this year, tax authorities of various levels have speeded up to establish individual income archive management system, withhold subsidiary book system, two-way declaration system of taxpayer and withholding agent, concerted system correspond to various departments of the society. And they also set up individual income tax informationalized management system, with informationalized measures, they gradually realize full-crew and full-amount management on individual income, and stressed management on high earners as well as source management on the tax source, thereby further standardizing and strengthening the individual income tax collecting management, and ensuring various working missions be fulfilled successfully.

By People's Daily Online