China posts 756 bln yuan tax revenue in first quarter

News from the State Taxation Administration says nationwide tax revenue grew steadily and rapidly during the first quarter totaling 756 billion yuan. There was a 20.4 percent up, which was 128.2 billion yuan.

Analyses show that there were three main characteristics about the tax revenue growth in the first quarter. First, the growth continued the trend of rapid increase in 2004.

Second, growth of domestic turnover tax and income tax grew fast. Value added tax, consumption tax and sales tax increased by 21.8 percent year on year. Income tax of domestic and foreign enterprises and personal income tax increased by 34 percent year on year.

Third, taxation from east, central and west regions grew in a comprehensive way. Tax revenue from the west region grew 6.9 percentage points and 3.3 percentage points faster than those from the east and central regions. Tax revenue from the west region increased its proportion in the national revenue by 2.9 percentage points over the same period in 2004.

By People's Daily Online