China's 2010 fiscal revenue to exceed 8 trillion yuan

08:41, December 24, 2010      

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In 2010, China's tax income is expected to amount to 7.7 trillion yuan ($1.16 trillion), and added with non-tax incomes, the country's fiscal revenue paddles to exceed 8 trillion yuan ($1.2 trillion), according to a Caijing report Wednesday.

According to previous data from the Ministry of Finance, in the first 11 months of the year, the country's non-tax revenues reached 840.82 billion yuan ($126.53 billion). During the same period, fiscal revenues had pegged at 7.67 trillion yuan ($1.15 trillion), 281 billion more than the target set for the whole year.

During the eleventh-five-year plan, China's fiscal revenue saw an annual growth of 1 trillion yuan ($150.48 billion) on average, a pace faster than the gross domestic product's.

Mao Yushi, president of Unirule Institute of Economics, said that citizens pay taxes so governments are able to ameliorate public services for them. However, since 2000, the tax income has gained weight, while the purpose to which it serves (improve public services) has not seen much.

In April this year, the Forbes magazine released the global 2009 Tax Misery Index, where China ranked in the second position.

Source: Global Times
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