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Taxes from Foreign-funded Companies Swell in East China Province
Between January and June, the tax revenue of east China's Jiangsu province from joint ventures and solely foreign-funded companies has come to 11.1 billion yuan, up 38 percent over the same period of last year, statistics released Tuesday show.
According to Fan Linyang, an expert on finance with the province's State Taxation Bureau, the soaring tax revenue was attributed to a booming export-oriented economy.
To date, some 16,000 overseas companies and foreign-funded companies have checked in within Jiangsu Province for tax registration.
Over 73 enterprises have the capacity to turn over taxes of more than 10 million yuan. The total amount paid by these companies in tax has reached 3.1 billion yuan, accounting for 30 percent of the province's total.
The amount paid by solely foreign-funded companies and joint ventures respectively stood at 3.9 billion yuan and 6.3 billion yuan.
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