Date
18 October 2017

China avg tax burden per person nearly 10,000 yuan, report says

China’s tax burden per head during 2013 was nearly 10,000 yuan (US$1,648), certainly not a low level, the New Express Daily reported Sunday, citing Gao Peiyong, deputy director of the Institute of Finance and Trade at the Chinese Academy of Social Sciences (CASS). According to CASS, over 90 percent of China’s tax revenues came from corporations, while personal income tax made up only 5.8 percent of the total figure. Authorities should carefully assess if there is a need to roll out property tax nationwide, the state-owned think tank said, cautioning against any hasty step. The country’s fiscal revenue stood at 12.9 trillion yuan last year, compared to 11.7 trillion yuan a year ago, the report said.

– Contact HKEJ at [email protected]

EL/AC/RC

 

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