The administration required individuals with an annual income of more than 120,000 yuan (US$16,438) last year to fill in forms and pay income tax by themselves.

They are also required to list their gains from stocks and property transactions.

"The country has not planned to levy tax on gains from the stock market, and the requirement is just meant to help collect information and data for the country's macro-control policies," said Miao Huipin, an official in charge of income tax with the administration, at a regular press conference.

China's mainland stock market experienced the most active year in 2007, with the stock trading stamp duty rising to 200.5 billion yuan (US$27.5 billion), 10 times the 2006 figure, according to SAT statistics.

Miao told reporters that many people with an annual salary above 120,000 yuan had gone to local taxation departments to report their incomes and "the registration work is going smoothly".

Many Chinese have become rich by working in private companies or being self-employed during the country's reform and opening-up drive, but their incomes are relatively untraceable.

The administration is trying to strengthen its monitoring of people that fall into this category and s

[1] [2] 下一页