Center

Personal income tax up 17.1%

(Xinhua)
Updated: 2007-02-21 09:00

China's personal income tax totaled 245.2 billion yuan (30.65 billion U.S. dollars) in 2006, up 17.1 percentyear-on-year, according to the State Administration of Tax (SAT).

According to SAT, tax on the interest of bank deposits moved up 28.7 percent to 45.9 billion yuan in 2006, 10.2 billion yuan more than the previous year.

SAT ascribed the increase in interest tax to rising outstanding bank deposits and the raise of deposits interest rate.

Bank figures indicated that the outstandingRenminbi-dominated deposits rose 16.8 percentyear on yearby the end of January to 34 trillion yuan.

Tax on wages jumped 10.2 percent to 126.4 billion yuan last year, 11.7 billion yuan more than the previous year.

A survey on 56,000 households in 32 regions in China show that the national average per capita income reached 1,059.89 yuan in the first 11 months last year.Beijingregistered a monthly per capita income of 1,878.32 yuan, the highest in the country.

Excluding customs duties and agricultural tax, China posted a tax revenue of 3.76 trillion yuan (482.5 billion U.S. dollars) in 2006, an increase of 21.9 percent year-on-year.

Meanwhile, preliminary estimations show itsGDPtotaled 20.94 trillion yuan last year, up 10.7 percent.