China's Tax Revenue Surges 20% in First Nine MonthsLatest statistics from the State Administration of Taxation show that in the first three quarters of this year China's tax revenue increased 22.7 percent over the same period last year, an increase of 207.4bn yuan.In this period, tax revenue totaled 1120.8bn yuan (excluding tariff and agricultural tax), accounting for 83.5 percent of the annual budget, of which 666.8bn yuan was registered by the central authorities, an increase of 127.7bn yuan, and 454bn yuan by local authorities, a rise of 79.6bn yuan. Reports say that the national taxation presents two features: one is marked change in structure of tax categories, the other is the narrowed tax gap between eastern, central and western regions. The tax revenue increase in the Jan-Sept period was attributed mainly to the contribution of value-added-tax, consumption tax and income taxes, which made up approximately 80 percent of the total volume of increased tax revenue. Besides, the faster tax-income growth rate in central and western regions has reduced their gap with the eastern region in this regard. Influenced by an economic slowdown and a variety of uncertain factors in the second half of this year, the growth rate of tax revenue has witnessed a visible downturn since this August, and this trend is expected to continue into the last quarter of the year, but tax revenue will continue to grow, and this good momentum will be maintained for the whole year. By PD Online Staff Li Heng |
| People's Daily Online --- http://english.peopledaily.com.cn/ |