Service firms pay 67% of tax revenue
Print Edition
The service industry paid nearly two-thirds of Shanghai’s tax revenue last year and financial firms took the lead as they made up 40 percent of the 100 top service taxpayers, underlining the city’s goal to be a global financial center.
Shanghai’s tax revenue rose 8.7 percent from a year earlier to 801 billion yuan (US$131.3 billion) in 2013, excluding taxes levied by the customs and stamp tax on securities transactions, the Shanghai Taxation Bureau said in a statement yesterday.
The gain accelerated from a growth of 7.1 percent in 2012.
Of the total, the service industry paid taxes of 516.8 billion yuan, accounting for 64.5 percent, the statement said. The top 100 service firms on the taxpayer list paid 129 billion yuan in taxes last year, or 16.1 percent of the city’s total tax income and 25 percent of tax payments by the service industry.
The top 100 service taxpayers last year included 40 financial institutions, the bureau said. There were also 29 commercial enterprises, 15 information services, leasing, scientific research and technical services enterprises, 12 real-estate firms. The remaining four firms were classified as others by the bureau.
The Bank of Communications Ltd was the top service taxpayer with 16.2 billion yuan, followed by Shanghai Pudong Development Bank with 10.4 billion yuan, and Shanghai GM Sales Co Ltd with 8.4 billion yuan.
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