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Comment by gniv | Hacker News Reader

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gniv·

The article doesn't say how much of the budget is from income taxes, but it cannot be a lot if only 2% pay taxes.

In the US income taxes are almost half of budget revenues.

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> The article doesn't say how much of the budget is from income taxes

It does. It is 8%.

That's interesting - because it begs the question, if income taxes are only contributing 8% to the coffer, where is the country's revenues mostly coming from?

Nationalized companies and tariffs

The party owns like 15% of every company

As well as ~100% of 3 of the 4 largest companies in the world:

https://en.wikipedia.org/wiki/List_of_largest_companies_by_r...

(and most of the biggest companies in China as well)

Sweet lord look at that difference between the Chinese petroleum and Dutch Shell in terms of revenue / employees.

Shell most likely contracts out most of the workload to subsidiaries and external companies (ex. franchise gas stations).

corporate tax, import/export tax, luxury good value added tax (vat), house purchase tax, etc

Huge natural resources (if you want new earth magnets it’s your only option etc,), huge moderately to well trained labour force, a smart foreign policy in building very close ties to their sometimes previously hostile neighbours

That’s what springs to mind. I’m sure the government has found some way to effectively tax its citizens but isn’t calling it “income tax”

It's 8% of tax revenue. It's less than that of the budget, since they run a deficit and have other non-tax revenue sources.

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