China posts 9.1% increase in tax revenue
By Zhang Fengming |
January 16, 2010, Saturday
|
Print Edition
Print Edition
CHINA'S tax revenue climbed 9.1 percent last year as the tax man took in higher taxes from consumption, individuals and imports, the State Administration of Taxation said yesterday.
China's total tax revenue totaled 6.3 trillion yuan (US$922 billion) in 2009, a rise of 524 billion yuan from a year earlier, the SAT said on its Website.
Income from the domestic consumption tax jumped 85.4 percent to 476.1 billion yuan last year while value-added tax revenue grew 3.8 percent to 1.88 trillion yuan.
The Ministry of Finance has estimated China's proactive fiscal policy reduced individual and corporate taxes by 500 billion yuan in 2009 as the government wants to stimulate corporate investment and individual consumption.
Last year, corporate income tax shed 0.3 percent to 1.2 trillion yuan. But individual income tax managed to gain 5.9 percent to 394.4 billion yuan last year. Stamp duty on stock trading slumped 47.9 percent year on year to 51.4 billion yuan.
China's total fiscal revenue is likely to grow 11.7 percent to 6.85 trillion yuan last year, the ministry said.
China unveiled a 4 trillion yuan package in 2009 to revive economic growth against the global financial crisis. The stimulus, which will continue this year, also includes raising export rebates to ease the burden on exporters.
China's total tax revenue totaled 6.3 trillion yuan (US$922 billion) in 2009, a rise of 524 billion yuan from a year earlier, the SAT said on its Website.
Income from the domestic consumption tax jumped 85.4 percent to 476.1 billion yuan last year while value-added tax revenue grew 3.8 percent to 1.88 trillion yuan.
The Ministry of Finance has estimated China's proactive fiscal policy reduced individual and corporate taxes by 500 billion yuan in 2009 as the government wants to stimulate corporate investment and individual consumption.
Last year, corporate income tax shed 0.3 percent to 1.2 trillion yuan. But individual income tax managed to gain 5.9 percent to 394.4 billion yuan last year. Stamp duty on stock trading slumped 47.9 percent year on year to 51.4 billion yuan.
China's total fiscal revenue is likely to grow 11.7 percent to 6.85 trillion yuan last year, the ministry said.
China unveiled a 4 trillion yuan package in 2009 to revive economic growth against the global financial crisis. The stimulus, which will continue this year, also includes raising export rebates to ease the burden on exporters.
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