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Home >> Business
UPDATED: 15:52, July 12, 2005
China sees steady rise in tax revenue
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China has raked in 1.581 trillion yuan (191.17 billion US dollars) in tax revenue in the first half of the year, up 21.7 percent year-on-year or an increase of 281.9 billion yuan (34.09 billion US dollars).

The figures were released by the Beijing-based Economic Information Daily here Tuesday.

Citing reports from the State Administration of Taxation, the newspaper said China's growth rates of tax revenue from January to June were 28.3 percent, 13.9 percent, 17.2 percent, 29.1 percent, 18.6 percent and 19.2 percent separately. Meanwhile, a monthly tax revenue of more than 200 billion yuan (24.18 billion US dollars) has been attained in the first half of the year.

Influenced by a slowing import, the import duties levied by customs saw a growth of only 7.1 percent to 197.3 billion yuan (about 23.86 billion US dollars), noted the article.

Meanwhile, revenue from stamp duties declined 71.4 percent or 7.3 billion yuan (882.7 million US dollars) from the same period of last year to 2.9 billion yuan (about 350.67 million US dollars) .

Owing to a sluggish sale, the revenue from automobile purchase duties also fell 3.9 percent, or 1.1 billion yuan (about 133 million US dollars) from the same period of last year to 26.7 billion yuan (3.23 billion US dollars).

Source: Xinhua


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