Economy and exports boost tax revenue
By Zhang Fengming |
February 2, 2011, Wednesday
|
Print Edition
Print Edition
CHINA'S tax revenue in 2010 increased 23 percent from a year earlier to 7.3 trillion yuan (US$1.1 trillion) due partly to a rapidly-growing economy and a recovery in exports.
The growth rate represented a jump of 13.2 percent from 2009, the Ministry of Finance said yesterday.
"China's economy performed positively in 2010 and economic indicators closely linked with tax income grew rapidly," the ministry said in an analysis of the country's tax income yesterday.
China's economy grew 10.3 percent last year.
The ministry also attributed strong auto sales, rising prices and a stricter tax collection system for the rise in tax revenue last year. China sold 13.76 million passenger autos last year, an annual jump of 33.2 percent. The country's exports grew 31.3 percent to US$1.6 trillion last year.
Meanwhile, individual income tax receipts also rose strongly by 22.5 percent to 483.7 billion yuan last year, up 16.4 percentage points from a year earlier.
"Rising household income, a new tax levy on the transfer of non-tradable shares, and stronger tax collection all boosted individual income tax collection," the ministry said.
Consumption tax grew 27.5 percent in 2010 to 601.8 billion yuan. But the growth was sharply down from 85.4 percent in 2009.
The growth rate represented a jump of 13.2 percent from 2009, the Ministry of Finance said yesterday.
"China's economy performed positively in 2010 and economic indicators closely linked with tax income grew rapidly," the ministry said in an analysis of the country's tax income yesterday.
China's economy grew 10.3 percent last year.
The ministry also attributed strong auto sales, rising prices and a stricter tax collection system for the rise in tax revenue last year. China sold 13.76 million passenger autos last year, an annual jump of 33.2 percent. The country's exports grew 31.3 percent to US$1.6 trillion last year.
Meanwhile, individual income tax receipts also rose strongly by 22.5 percent to 483.7 billion yuan last year, up 16.4 percentage points from a year earlier.
"Rising household income, a new tax levy on the transfer of non-tradable shares, and stronger tax collection all boosted individual income tax collection," the ministry said.
Consumption tax grew 27.5 percent in 2010 to 601.8 billion yuan. But the growth was sharply down from 85.4 percent in 2009.
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