Population declaring income tax topped 290,000 in Shanghai

It is learned from the local tax department in Shanghai that over 290,000 individuals with the annual income of more than 120,000 yuan in 2007 have made tax declaration till March 31, 2008.

The declared annual income reached 111.66 billion yuan, up 22.6% over the previous year, while the per capita annual income declared was 382,000 yuan and tax paid 61,000 yuan.

The mechanism of self-declaration of income tax by taxpayers with the annual income of 120,000 yuan-plus in 2007 covers a wide range of the individual income tax including wages and salaries, remuneration for providing services, interest, dividends and bonuses as well as income from transferring properties, etc.

Source: People's Daily Online