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Tax Revenues Hit 1009.5 Bn Yuan in First Eight Months
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News from State Administration of Taxation told that the accumulative tax revenue in the first eight months was 1009.5 billion yuan, an increase of 24.5 percent over the same period of last year, finishing 75.2 percent of the annual budget.
Steady economic growth and favorable turn of enterprise efficiency have contributed to the taxation increase in the first eight months with added value tax, consumption tax playing the major role and various other taxation which include the income taxes from enterprises and personal income. Added value and consumption taxes reaped 428.7 billion-yuan, a rise of 21.9 percent, or 77 billion yuan, accounting for 38.8 percent of the total taxation increase. Other taxation contributed 226.5 billion-yuan, an increase of 50.8 percent, or 76.3 billion-yuan, making up 38.4 percent of total taxation increase.
In general, the tax revenue income in the first eight months saw an increase by 12 percent.
(China Daily 09/30/2001)
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