Millionaires make more money, pay less tax
(Xinhua)
Updated: 2006-12-01 14:59
Beijing -- The richest people on the Chinese mainland paid less tax in 2006
than the year before despite their growing wealth, according to a report on the
annual list of the mainland's wealthiest.
The personal assets of the 120
entrepreneurs on the list were worth on average 2.062 billion yuan (US$0.26
billion), an increase of 202 million yuan, or 10 percent, on last year.
However, they only paid taxes of 270 million yuan on average, compared
with 283 million yuan in 2005, the Guangzhou-based Nanfang Daily said in a
report.
Guo Guangchang's Shanghai-based Fosun Group tax contribution of
four billion yuan was the highest.
Expanding wealth did not lead to more
generous donations. The 120 richest people donated an average of only 6.23
million yuan, the same as last year.
Huang Rulun, president of the
Century Golden Resources Group in southeast China's Fujian Province, donated 16
million yuan and tops the donation list.
The remaining 119 entrepreneurs
contributed five million yuan on average.
The number one on the rich
list is Shi Zhengrong, of the Suntech Power Co., Ltd. in eastern Jiangsu
Province, who boasts a fortune of 15.5 billion yuan.
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