China's tax revenue reached 266 billion yuan (US$32 billion) in the first two months of the year, up 13 percent compared with the same period last year.
According to figures released by the State Administration of Taxation (SAT) yesterday, taxes from production and consumption accounted for 80 percent of the increase in tax revenue during the period.
Value-added tax revenue grew by 17.5 percent year-on-year to 99.7 billion yuan (US$12 billion), while consumption tax jumped 34.2 percent to 16.9 billion yuan (US$2 billion). Sales tax increased by 14 percent to 47 billion yuan (US$5.6 billion).
SAT figures showed, in the first two months of the year, income tax from individuals and businesses with foreign investment grew by 29.3 percent and 45.9 percent respectively, but income tax from Chinese businesses dropped by 7.7 percent.
(Xinhua News Agency March 13, 2002)
