Quicker climb in China's fiscal revenue
By Feng Jianmin |
October 19, 2012, Friday
|
Print Edition
Print Edition
CHINA'S fiscal revenues rose faster in September, boosted by a rebound in local government revenue amid a warmer housing market, the Ministry of Finance said yesterday.
A total of 825.8 billion yuan (US$172 billion) in fiscal revenue was collected in September, up 11.9 percent annually, the ministry said in a statement. The pace was faster than August's 4.2 percent.
The local governments saw revenue surge an annual 26.8 percent to 459.4 billion yuan as an increase in property transactions in past months lifted their tax revenue, the ministry said.
On the other hand, the central government's income fell 2.4 percent to 366.4 billion yuan, a second straight monthly drop, due to weaker corporate profit and slower rise in imports and consumer prices, the ministry said.
Corporate income tax fell 11.1 percent to 46.6 billion yuan due to a decline in industrial profits, while individual income tax shed 5.7 percent to 42.5 billion yuan, the ministry said.
In the first eight months, China's fiscal revenues rose 10.9 percent annually to 9.06 trillion yuan, it said. The growth rate shed 18.6 percentage points from the same period in 2011.
A total of 825.8 billion yuan (US$172 billion) in fiscal revenue was collected in September, up 11.9 percent annually, the ministry said in a statement. The pace was faster than August's 4.2 percent.
The local governments saw revenue surge an annual 26.8 percent to 459.4 billion yuan as an increase in property transactions in past months lifted their tax revenue, the ministry said.
On the other hand, the central government's income fell 2.4 percent to 366.4 billion yuan, a second straight monthly drop, due to weaker corporate profit and slower rise in imports and consumer prices, the ministry said.
Corporate income tax fell 11.1 percent to 46.6 billion yuan due to a decline in industrial profits, while individual income tax shed 5.7 percent to 42.5 billion yuan, the ministry said.
In the first eight months, China's fiscal revenues rose 10.9 percent annually to 9.06 trillion yuan, it said. The growth rate shed 18.6 percentage points from the same period in 2011.
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