China's tax revenue grows from Jan.- June

The latest statistics from the State Administration of Taxation record 1581 billion yuan of tax revenue (excluding tariffs and agricultural taxes) for the first half of the year, a year-on-year increase of 21.7 percent, or 281.9 billion yuan more than the first 6 months of last year.

Revenues from imports tax collected by the customs, stamp tax on securities transactions, and taxes on auto purchasing are declining or growing more slowly due to slowdown in imports, stamp tax cuts and falling auto sales.

Tax revenue, in general, is rising steadily and has reflected the economic growth.

Revenue from turnover tax and income tax grew steadily. 832.7 billion yuan of turnover tax (including value added tax, consumption tax and business tax) has been collected from Jan. to June this year, increasing by 20 percent, or 138.6 billion yuan. The increase is 49.2 percent of the total tax growth. Corporate income tax from domestic and foreign-funded enterprise, plus personal income tax, reached 427.4 billion yuan. The 38.2 percent surge, or 118.1 billion yuan, has contributed 41.9 percent to the upward momentum of the tax revenue.

However, as it is mentioned above, some tax sources are shrinking. Import duties collected by the customs, standing at 197.3 billion yuan, crept only 7.1 percent, or 13 billion over the same period of last year. Stamp tax on dealing in securities valued 2.9 billion yuan, even plummeted by 71.4 percent, or 7.3 billion compared with the same period of last year. Tax on auto purchasing is a similar case, which registered 26.7 billion yuan, down by 3.9 percent or 1.1 billion yuan.

The country's east, west and middle regions all enjoy rising tax revenue at a rate of 20.9 percent, 23.1 percent and 24.7 percent respectively.

By People's Daily Online