BIZCHINA / Center |
Tax collectors target high income earnersBy Li Fangchao (China Daily)Updated: 2006-12-09 10:20 High-income earners in Beijing who miss the deadline for filing their tax declarations next year will receive reminders from local tax officials, while evaders will face fines.
People who fail to file declarations before the March 31 deadline next year will receive a text message from local tax authorities to remind them to do so. Tax officials will also arrange meetings with late filers and issue reminders to the accounting departments of the companies that employ them. People who fail to file a declaration or who intentionally delay filing will have to pay a default fee. Big earners will have to declare their income between January 1 and March 31. The State Administration of Taxation (SAT) issued a notice last month requiring people earning more than 120,000 yuan (US$15,380) per year to file an annual tax declaration with their local tax bureau, regardless of whether they have already paid their taxes. People whose income comes from outside the Chinese mainland are also required to file annual tax declarations. The new declaration regulations are part of an effort to better monitor big
earners' finances.
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