Despite sluggish consumer sentiment and concerns over income growth, China\u2019s personal income tax revenue rose in the first five months of the year, riding on stock market gains and tighter enforcement.<\/p>\n
Personal income tax revenue increased 12 per cent year on year to 764.4 billion yuan (US$106.4 billion) between January and May, according to data released by the State Taxation Administration on Wednesday.<\/p>\n
It attributed the rise to active capital markets, higher incomes in some industries and stronger compliance among high-income earners.<\/p>\n
By comparison, disposable income of residents rose by only 4.9 per cent year on year in the first quarter, according to the National Bureau of Statistics. Wage income, which accounts for the largest share of household earnings, also increased 4.9 per cent.<\/p>\n
Huang Lixin, head of the administration\u2019s Tax Science Research Institute, said active capital markets had accounted for nearly half of the increase.<\/p>\n
\u201cAs capital markets remained active and more employees exercised their equity incentive plans, tax revenue generated from share-based compensation continued to increase,\u201d Huang said. \u201cActive capital markets contributed nearly half of the growth in personal income tax revenue.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Despite sluggish consumer sentiment and concerns over income growth, China\u2019s personal income tax revenue rose in the first…\n","protected":false},"author":2,"featured_media":493969,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[2102,72,114,212026,137710,113,212022,2937,212025,61,60,136809,12051,212024,212023,116577,212027],"class_list":["post-493968","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-beijing","tag-business","tag-china","tag-chinese-tax-institute","tag-common-reporting-standard","tag-economy","tag-enterprise-financial-management-association-of-china","tag-futu","tag-huang-lixin","tag-ie","tag-ireland","tag-longbridge","tag-national-bureau-of-statistics","tag-personal-income-tax","tag-share-based-compensation","tag-state-taxation-administration","tag-tiger-brokers"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/493968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=493968"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/493968\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/493969"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=493968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=493968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=493968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}