国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Economy

China's tax revenue growth hits three-year low

(Xinhua) Updated: 2012-04-25 09:17

BEIJING - Growth of China's tax revenues logged the slowest pace in three years in the first quarter of 2012 as a result of the country's cooling economy, official data showed Tuesday.

Tax revenues rose 10.3 percent year-on-year to 2.5858 trillion yuan ($410.4 billion) in the first quarter, the Ministry of Finance said in a statement posted on its website.

The growth rate marked the slowest pace in three years, pulling back 22.1 percentage points from the same period last year, the ministry said.

Revenues from major tax items saw slower year-on-year gains. Receipts from value-added tax, consumption tax and turnover tax rose 5.4 percent, 15.1 percent and 7.6 percent, respectively, down 17.8 percentage points, 6.4 percentage points and 18.7 percentage points from a year earlier, the statement said.

Revenues from corporate income tax increased 20.5 percent during the January-March period, while those from personal income tax dropped 6.2 percent year-on-year, slumping 43.2 percentage points on the same period last year.

The easing pace came as China's industrial value-added output and profits, key measures of industrial performances, both saw slower growth in the first two months as the country's economy cooled.

China's economy expanded 8.1 percent year-on-year in the first quarter, marking the fifth consecutive quarter of slowing growth, according to the National Bureau of Statistics.

During the January-February period, the country's industrial value-added output shed 2.7 percentage points to grow 11.4 percent while industrial profits decreased 5.2 percent year-on-year, down 39.5 percentage points on last year.

Meanwhile, property-related tax income retreated significantly in the first three months. Revenues from deed tax and sales tax declined 13.6 percent and 17.5 percent, respectively, shedding 41.1 percentage points and 45.8 percentage points from the same period of last year.

The shrinking tax in the sector is largely the outcome of sagging sales due to the government's persistent control efforts. In the first two months, sales value of commercial housing dropped 20.9 percent year-on-year, according to the statement.

The ministry also attributed the slower growth to the country's cooling inflation and tax-reduction policies.

Growth of the country's Producer Price Index, a major gauge of inflation at wholesale level, pulled back 6.5 percentage points in the first two months, while that of the consumer price index, a main measure of inflation, retreated 1 percentage points, eroding tax revenue that was computed with the current prices.

Also, the government's moves to reduce tax burdens and deepen structural reform, including by raising the threshold of income tax, tariff reductions on certain imported products and favorable tax policies for small and micro-sized enterprises, have combined to drag down the tax revenues, the ministry said.

Hot Topics

Editor's Picks
...
...
清流县| 宝山区| 凤山县| 蒙阴县| 敦化市| 融水| 县级市| 南岸区| 泉州市| 卓尼县| 万载县| 吴忠市| 南昌市| 禄丰县| 望江县| 盈江县| 香河县| 丹江口市| 平谷区| 宜阳县| 金昌市| 漠河县| 都江堰市| 常州市| 神农架林区| 五莲县| 璧山县| 镇宁| 富裕县| 蓬莱市| 阳山县| 贡觉县| 神池县| 哈尔滨市| 汝州市| 中方县| 修文县| 丽江市| 皋兰县| 白水县| 盈江县|