TAXATION ON HIGH-INCOME GROUP INTENSIFIED

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(0418 CR M02) TAXATION ON HIGH-INCOME GROUP INTENSIFIED DATELINE: April 18, 2011 LENGTH: 00:01:12 PKG INTRO China plans to plug loopholes in collecting taxes from high-income residents. Find out more details. PKG The country's taxation authorities have ordered local bureaus to carry out the plan by strengthening coordination with other departments. According to a statement released Sunday by the State Administration of Taxation, income from the transfer of equity and houses, derived from auctions, interest returns, stock dividends and bonuses will become the main targets of taxation improvements. The administration will enhance cooperation with administrations for industry and commerce to step up taxation on transfer of equity in non-listed companies. Meantime, taxation on transfer of equity in listed firms will also be improved. (GFX) It said quote: "Taxation authorities should enhance contact with auction houses in order to be given information about the sources of in Powered by www.newslook.com Producer : Xinhua News Agency

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