Sources from the Guangzhou Bureau of Local Taxation reported that in the past ten months, local tax revenue concerning foreigners in Guangzhou Reached RMB9.091 billion, up by 30.04% (RMB2.1 billion) compared with the same period of last year, in excess of the total local tax revenue concerning foreigners from last year.

Between January and October, Guangzhou witnessed rapid and healthy development in foreign-related industries like real estate, transportation, advertising, rental & leasing and service industry, which generated local tax revenue amounting to RMB4.596 billion, up by 29.51% (RMB1.047 billion) compared with the same period of last year. Besides, the stamp tax has been collected since the beginning of this year, for taxable vouchers completed by taxpayers in electronic form. Therefore, electronic trading documents of foreign-funded enterprises have helped the stamp tax amount to RMB314 million, increasing by 69.67% compared with the same period of last year.

In addition, the local tax revenue from foreign-related real estate and income tax for foreigners increased dramatically. Guangzhou Bureau of Local Taxation issued relevant regulations to strengthen its management of the local tax collection. As a result, local tax revenue from those two items totaled RMB463 million (up by 16.48%) and RMB2.999 billion (up by 18.51%) respectively.