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China’s Fiscal Revenue Saw 15.8 % growth in the First Two Months of This Year
font size: Biginsmall date:2018-03-22 [Print this page]    [Close]

    Beijing, March 21, China News Service—According to the statistics released by the Ministry of Finance on March 21, from January to February, the national general public budget revenue reached 3.6553 trillion yuan (RMB), a year-on-year increase of 15.8%. This includes 3.2952 trillion yuan of tax revenue, a year-on-year increase of 18.4%, and 0.3601 trillion yuan of non-tax revenue, a year-on-year decrease of 3.5%.

 From January to February, among the major taxes in China, revenue from domestic value added tax stood at 1.2952 trillion yuan, a year-on-year increase of 22.3%; revenue from domestic consumption tax reached 0.2936 trillion yuan, a year-on-year increase of 29.5%; revenue from corporate income tax reached 0.7468 trillion yuan, a year-on-year increase of 14.8%; revenue from individual income tax reached 0.2841 trillion yuan, a year-on-year increase of 0.3%; revenue from value added tax and consumption tax on imported goods reached 0.2818 trillion yuan, a year-on-year increase of 21.5%; revenue from customs duties reached 47.6 billion yuan, a year-on-year increase of 10%.  

 The revenues coming from taxes related to land and real estate are as follows: revenue from property deed tax 82.1 billion yuan, a year-on-year increase of 28.4%; revenue from land appreciation tax 95.9 billion yuan, a year-on-year increase of 10.1%; revenue from house property tax 50.2 billion yuan, a year-on-year increase of 17.5%; revenue from farmland occupation tax 11.8 billion yuan, a year-on-year decrease of 31%; revenue from urban and township land use tax 42.8 billion yuan, a year-on-year increase of 7.6%.

In addition, the revenues from such taxes as vehicle acquisition tax, stamp tax and resource tax also realize relatively fast growth.

 From January to February, the national general public budget spending reached 2.9062 trillion yuan, a year-on-year increase of 16.7%. According to the Ministry of Finance, the growth of relevant projects concerning general public budget revenue and spending in January and February usually experiences greater fluctuation, because the fiscal revenue and spending of January and February have long been under the influence of factors like Spring Festival vacation. As this particular aspect needs to be taken into consideration, the trend of the fiscal revenue and spending therefore merits further analysis.

 The statistics released by the Ministry of Finance also indicate that from January to February, the government-managed funds budget revenue reached 967.1 billion yuan, which is a year-on-year increase of 33.3%. This includes the revenue from the assignment of the right to use state-owned land, which is 849.9 billion yuan, a year-on-year increase of 38.9%. (End)

Source: WWW.CHINANEWS.COM

 

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