Tax revenue too high

0 Comment(s)Print E-mail China Daily, July 16, 2012
Adjust font size:

Gross Deceptive Product [By Jiao Haiyang/China.org.cn]

The exceptionally high growth in fiscal revenues for the first half of this year is eye-catching, especially considering the hard times the economy is facing.

While its GDP growth rate dipped to 7.6 percent in the second quarter, the lowest in three years, China's fiscal revenues for the first two quarters, the bulk of which are from taxation, grew by 12.2 percent.

And even though the economy has slowed, there was a 21.1 percent growth in corporate business tax revenues in June, much higher than its overall tax revenue growth in the same month.

This rise reflects the fact that some local governments stepped up their tax collection in June in order to meet their budgeted target for the first half of the year.

The tax bureau of a county in Gansu province, for example, managed to collect taxes equivalent to 32 percent of its budgeted target for the first half of the year in just 20 days, according to the China Business News report.

The tax collectors concerned said they had collected the taxes without abusing their power or adding to the tax burdens of local enterprises. But the fact that China's overall tax revenues have continuously increased in the past decade despite the fluctuations in the national economy is thought provoking.

Even in 2009, when it had to mete out massive spending to combat the fallout from the 2008 global financial crisis, the country achieved a tax surplus of more than 200 billion yuan ($31.27 billion).

Although it brings in quick money for the country to combat the economic slowdown, such an increase regardless of economic conditions is dangerous in the long run.

In times of economic difficulties, enterprises fall victim to reduced demand and a stagnant market. A stable and predictable taxation system, which takes into consideration the financial difficulties of enterprises, will help them ride out the downturn.

However, despite their claim that they are abiding by the rules, local governments seem to be tightening the screw on businesses making it even harder for them to navigate the uncertainties.

As the corporate sector holds the key to stable growth and job creation, a more predictable taxation system is a must.

Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 国产乱人伦偷精品视频免下载| 在线天堂bt种子| 久久精品国内一区二区三区| 欧美激情在线精品video| 再深点灬舒服灬太大了岳| 色爱无码av综合区| 国产女人好紧好爽| 亚洲欧美日韩精品中文乱码| 国产麻豆精品手机在线观看 | 中文字幕一区二区三区乱码 | 成人区人妻精品一区二区不卡视频| 久久的精品99精品66| 最近最新中文字幕| 亚洲国产精品无码久久青草 | 91精品国产色综合久久| 天天摸天天操免费播放小视频| 一级片在哪里看| 成人影片一区免费观看| 久久99精品久久久久久园产越南 | 欧美日韩小视频| 亚洲精品乱码久久久久久自慰| 狠狠色欧美亚洲狠狠色www| 动漫人物一起差差差漫画免费漫画 | 年轻人免费看电影网站| 中国国产aa一级毛片| 新婚张燕被两个局长| 久久99九九99九九精品| 日本xxx片免费高清在线| 国产亚洲一区二区在线观看| 黄色网址免费大全| 国产精品…在线观看| 1300部真实小u女视频在线| 国产美女一级做a爱视频| 99久久一香蕉国产线看观看| 护士在办公室里被躁视频| 久久久精品一区二区三区| 日本高清免费中文字幕不卡| 久久这里只有精品18| 暖暖日本在线视频| 久久精品私人影院免费看| 日韩精品一区二区亚洲av观看|