Jan.8 - China collected 245 billion yuan (30.63 billion US dollars) in personal income taxes last year, 17 percent more than that in 2005, according to the State Administration of Taxation (SAT).

 

Analysts with SAT attribute the increase to people's rapid rising incomes. China's GDP increased by more than 10 percent in the first three quarters in 2006.

 

The comparatively developed east coast areas contributed most to the tax revenue.

 

According to new income tax regulations, individuals with annual incomes of more than 120,000 yuan must voluntarily declare all of their income and pay personal income tax.