China’s personal income tax compliance crackdown contributes to 12% rise in revenue

Despite sluggish consumer sentiment and concerns over income growth, China’s personal income tax revenue rose in the first five months of the year, riding on stock market gains and tighter enforcement.
Personal income tax revenue increased 12 per cent year on year to 764.4 billion yuan (US$106.4 billion) between January and May, according to data released by the State Taxation Administration on Wednesday.
It attributed the rise to active capital markets, higher incomes in some industries and...