Source: CCTV.com

12-21-2006 10:16

The State Administration of Taxation announced last month that individuals with annual income of more than 120.000 yuan should voluntarily declare earnings to taxation departments. Yesterday (Wed), the administration issued another notice on details of how to declare each kind of earnings.

In its new announcement, the administration stressed that individuals cannot exempt already charged fees when declaring earnings from labor services, franchises and asset lease. Deposit interest and corporate dividends received by individuals will also be included in tax payers' income. All these items are under one principle, that is, pre-tax.