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SOEs' capital gains tax to rise this year

China's centrally-administered State-owned enterprises (SOEs) will pay more capital gains tax from 2014, the Ministry of Finance said on Tuesday. The proportion of paid-in State-owned capital gains by central SOEs will rise 5 percentage points, the ministry said in an explanation of this year's State-owned capital management budget. It means central SOEs in the budget should pay more from post-tax profits. The ministry is expected to collect 141.49 billion yuan ($23 billion) of post-tax profits from central SOEs this year, up 36.1 percent or 37.543 billion yuan from what was actually collected in 2013.

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