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China reports 21.7% rise in tax revenue Jan-Sept (10/20/03)

China has overcome the negative impact of severe acute respiratory syndrome (SARS) on its taxationas tax revenue surged 21.7 percent in the first three quarters of the year.

The State Administration of Taxation (SAT) announced on Oct.20 that the tax revenue of China reached 1,524.3 billion yuan (184.3 billion US dollars) from January to September, 271.6 billion yuan more than in the same period of last year.

A SAT official said the past nine months of the year had seen even and rapid monthly growth of tax revenue except in June, when SARS greatly lowered the growth rate of taxation.

The officials said that since the Chinese government had adopted prompt measures to offset the impact of SARS, economic activities began to recover in late June and tax revenue had resumed the rapid growth.

He said rapid growth of investment and foreign trade had helped push up growth of value-added tax, import tax and corporate incometax. The three taxes accounted for nearly 70 percent of the total growth of tax revenue.

According to SAT, the Chinese government reaped in 157.8 billion yuan of taxes in September, 19.7 percent or 26 billion yuan more than in the same month of last year.


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