Chinanews, Beijing, January 24 – New tax regulations in China require people with an annual income of more than 120 thousand yuan to voluntarily declare their annual earnings to tax authorities, no matter they have paid enough personal income tax or not. However, only less than 8,000 of 250 thousand Beijingers who earn more than 120 thousand yuan every year have handed in their reports.

 

Obviously, many of them know little about the new regulations, which explain their abandoning their obligations as taxpayers, said Wang Jiping, the director of Beijing Local Taxation Bureau, in a local radio programme.