Individual Tax Collection Will Be Completed Two Months Ahead Of The Year'S Target &Nbsp, Or Over 80 Billion.

Economy Speed up Slowing down, reform of personal income tax and volume of real estate transactions Increase The latest data released by China's Ministry of Finance showed that in October, China's fiscal revenue was 918 billion 834 million yuan, up 132 billion 803 million yuan from last year (the same month last year), an increase of 16.9%, a second consecutive month of decline.

The Ministry of Finance said that the cumulative growth of China's fiscal revenue will fall in the next two months. Nevertheless, in the first 10 months, China's fiscal revenue has surpassed the total sum of 8 trillion and 300 billion yuan last year, and this year's fiscal revenue will set a new high. Among them, personal income tax has been completed 2 months ahead of schedule.

The Ministry of Finance said that the growth of fiscal revenue was high before and after low. In quarterly terms, China's fiscal revenue grew by 33.1% in the first quarter, 29.6% in the two quarter and 25.9% in the three quarter, of which the increase in September was 34.3% from August. Fall back To 17.3%, in October, an increase of 16.9% over the same period, and continued to fall.

According to the Ministry of finance data, from the expenditure situation, in October, China's fiscal expenditure was 807 billion 903 million yuan, an increase of 159 billion 73 million yuan compared with the same month last year, an increase of 24.5%. The Ministry of Finance pointed out that the expenditure at the central level this month was mainly due to the expenditure of vehicle purchase tax arranged at the central level at the central level for highway construction. This year, the transfer of payments to local governments is reflected in local fiscal expenditure. Local fiscal expenditure was 698 billion 458 million yuan, an increase of 39.4% over the same period last year.

Data also showed that from 1 to October, China's fiscal expenditure was 7 trillion and 755 billion 960 million yuan, an increase of 1 trillion and 656 billion 634 million yuan over the same period last year, an increase of 27.2%. budget 77.4%, 5.2 percentage points faster than the same period last year.

It is worth mentioning that the data released by the Ministry of finance also showed that the personal income tax income totaled 534 billion 749 million yuan in 1-10 months, and exceeded the budget target of 520 billion yuan in 2011 for two yuan in advance.

According to the analysis of insiders, if the personal income tax is maintained at the level of October in the next two months, the national income tax revenue will exceed 80 billion yuan this year. {page_break}

In addition, it is worth noting that the personal income tax income in October was 35 billion 237 million yuan, which was reduced by 1 billion 100 million yuan compared with the same period last year, by 3.1%. In October, personal income tax decreased by 9 billion 900 million yuan from September compared with 22% in September.

Since September 1st this year, the exemption amount of personal income tax has been raised to 3500 yuan / month. According to the relevant provisions of the tax law, the tax payable on wages and salaries should be paid into the state treasury within 15 days of the next month. Most of the taxable payments in September will be put into storage before October 15th. Accordingly, the increase of personal income tax will fall from October.

Related experts said that under the background of rapid growth of fiscal revenue, structural tax cuts still need to be further promoted, and some specific taxes should be increased or reduced. For example, tax incentives should be given to the innovative support behaviors of SMEs, and tax increases should be made for the development of resource products, while the proportion of direct taxes should be increased and indirect taxes reduced.

People's Daily: Hongkong's annual income of 178 thousand yuan is 729 yuan.

A recent heated debate on micro-blog seems contradictory. Micro-blog said, "a single young person in Hongkong has an annual income of 178 thousand, and only needs to pay HK $729". The "pay tax" mentioned in micro-blog should refer to salaries tax, which is similar to the personal income tax in the mainland. Is this statement accurate?

The exemption of salaries tax for single persons in Hongkong is 108000 yuan, more than part of taxable income, and a progressive tax rate. Therefore, the taxable income of the youth earning 178 thousand yuan is 70 thousand yuan. The first 40 thousand yuan tax rate is 2%, accounting for 800 yuan. The remaining 30 thousand yuan is applicable to the 7% tax rate, which is 2100 yuan. The total is 2900 yuan.

However, the government of Hongkong has a 75% tax reduction (Cap 6000 yuan) for the salaries tax in 2010/2011. Eventually, the young person only needs to pay 2900 yuan 25%, or 725 yuan, for an average of 60 yuan per month. So the data from micro-blog are basically true.