| CHINA’S tax
revenue, excluding tariffs and agricultural taxes, rose 11
percent year on year in the first eight months of this year to
1.12 trillion yuan (US$135.3 billion), the China Securities
Journal reported yesterday.
The growth was marginally higher than the 10.8 percent
rise during the first seven months of this year. China’s tax
revenue “maintained a steady growing trend”, the newspaper
quoted the State Administration of Taxation as saying.
The government has been trying to boost tax revenues this
year by closing tax loopholes and cracking down on smuggling
to keep its widening budget deficit — set at a record 309.8
billion for this year — under control.
The increase in revenue came amid a campaign to fight tax
evasion among high-income business people, artists and
entertainers, with severe consequences for some celebrities.
Central Government tax revenue rose a year-on-year 10.6
percent between January and August to 682 billion yuan, while
local revenue rose 11.7 percent to 438.9 billion yuan, the
newspaper report said.
Corporate income tax paid by foreign firms surged 29
percent year on year in the January to August period, while
that by domestic firms rose only 4.3 percent, the report said
without giving actual figures.
Personal income tax soared 23.8 percent year on year in
the January to August period, the report said without giving
further details.
(SD-Agencies)
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