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Article: Shanghai's Individual Income Tax Surges 30 Percent

Article from:
Xinhua News Agency
Article date:
January 8, 2002
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According to statistics of the local tax administration, total individual income tax for Shanghairesidents reached 7.8 billion yuan (940 million U.S. dollars) in 2001, up 30 percent from the previous year.

Each Shanghaier paid 465 yuan (56 U.S. dollars) in income tax on the average, according to the statistics.

Income tax has become a major growth point in the city's tax revenue as it now accounts for 12.6 ...

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