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July 2003
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NEWS COLUMN

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Business in Brief

 

Billionaire Places Ad Seeking Wife -- 5,000 Respond
Prospective College Graduates' Most Disirable Companies and Industries
Largest Cliffside Buddhist Scripture Found
Temple Pays Tax
Lottery Causes Mental Disorder
Stephen Chow Sing-Chi Appears on the Cover of Time Magazine
Over 80,000 Overseas Students Received in 2002
Gender Check on Fetuses Banned

Temple Pays Tax


Shaolin Temple, a hot tourist destination.

The abbot and accountant of the famous Buddhist Shaolin Temple of martial arts recently visited the Dengfeng City Tax Bureau to make the temple's first tax payment -- in the sum of 20,900 yuan -- since 1949.

Since the eponymous and highly successful kungfu film of a decade ago, the ancient temple's worldwide reputation has greatly boosted tourism to the temple. During this time the Henan Shaolin Temple Industrial Development Co., Ltd., has been established and registered in over 130 countries, including the U.S., Japan, Germany and Australia. This year the temple received 380,000 yuan for use of its  intangible assets. This is the first income of this kind the temple has received. It consequently paid tax in accordance with the Taxation Law.

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