Shanghai Reports 25 Percent Tax Revenues Increase in First Three QuartersChina's largest industrial and commercial center, and venue of the APEC summit, reported a tax revenue increase of 24.3 percent in the first three quarters.The city's tax revenues reached 84 billion yuan (10.1 billion U. S. dollars) in the first nine months, according to statistics. Value-added tax, consumption tax and income tax contribute a major proportion to the increase, and increase from value-added and consumption tax account for half of the total increase, sources say. Overseas-funded enterprises record sound economic efficiency and tax from overseas-funded enterprises have reached 28.4 billion yuan (3.4 billion U.S. dollars), up 30 percent from the same period last year, according to sources. |
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