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First Quarter's Tax Revenue Increased by 72.1 Bn Yuan
Statistics from State Administration of Taxation show that by the end of March 20, China collected 305.828 billion yuan in taxes in the first quarter of this year, an increase of 72.121 billion yuan or 30.9 percent over the same period of last year, the highest in recent years.
Imports tax and securities stamp tax revenues decreased compared with the same period of last year, a total of 3.203 billion yuan was reduced, resulting in some changes in other taxes revenues increase.
According to reports, major taxation increased dramatically this year, China collected 132.287 billion yuan in domestic value-added tax and consumption tax, 32.581 billion yuan or 32.7 percent higher than the same period of last year. Enterprises paid 39.022 billion yuan in income tax, a jump of 57.5 percent to 14.25 billion yuan over the same period last year.
Jin Renqing, director of State Administration of Taxation, said that this year��s tax revenue for the first quarter was higher than expected, this indicates that China��s macro-economic environment has been further improved.
By PD Online Staff Li Yan
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