Rise in Shanghai's tax revenue slows
Source: Shanghai Daily |
January 12, 2013, Saturday
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Print Edition
Print Edition
SHANGHAI'S tax revenue rose slower last year amid weaker economic growth and tax cut measures.
The city collected 752.56 billion yuan (US$121 billion) last year, up 7.1 percent from a year earlier, the Shanghai Taxation Bureau said in a statement yesterday. That compared with 15.1 percent growth recorded in 2011. A value-added tax reform program that replaces business tax with VAT for more than 139,000 service companies starting last year cut the city's tax revenue by 4.45 billion yuan in the first half, the bureau said earlier.
The city collected 752.56 billion yuan (US$121 billion) last year, up 7.1 percent from a year earlier, the Shanghai Taxation Bureau said in a statement yesterday. That compared with 15.1 percent growth recorded in 2011. A value-added tax reform program that replaces business tax with VAT for more than 139,000 service companies starting last year cut the city's tax revenue by 4.45 billion yuan in the first half, the bureau said earlier.
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