Business

Bureau Collects Record Taxes From Chinese Web Portals

Beijing's Haidian District Local Taxation Bureau says this year is "A Year of Income" for the Internet industry, as it recorded increased tax collections from many companies in the sector.

According to the Bureau, the five major Chinese website companies Sina.com (SINA), Sohu.com (SOHU), Netease.com (NTES), Baidu.com (BIDU) and Tencent.com have already paid this year CNY223 million in local taxes, an increase of CNY16.28 million compared with the same period of 2004.

And the individual income tax, the amount paid on behalf of their employees, has also reached a total of CNY105 million, the highest record in recent years.

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