| China's tax revenue up 25.5 percent in Q1 |
BEIJING, April 13 (Xinhua) -- China's tax revenue reached 1.1 trillion yuan (147 billion U.S. dollars) in the first quarter of 2007, up a hefty 230 billion yuan -- or 25.5 percent -- on the same period last year, said the State Administration of Taxation (SAT) on Friday.
With the national economy performing robustly, the industrial sector chipped in 310 billion yuan in value-added tax, up 19.7 percent on the same period last year, said SAT official Shu Qiming.
Tax from the real estate industry jumped 35.3 percent in the first quarter, with investment in the sector, frequently cited as one of the engines of the country's economic growth, rising 24.3 percent in the January-March period.
With Chinese companies reporting higher profits, the country's income tax revenue from foreign-invested enterprises, domestic enterprises and individuals amounted to 284 billion yuan in the first three months, an increase of 26 percent on the same period last year.
The stock market frenzy saw stamp duties on stock trading grow to 12.2 billion yuan in the first quarter, a 516 percent rise year on year.
Increased revenues from import duties and motor vehicle purchase taxes also contributed to the growth, the SAT figures show.
The SAT official said strict implementation of tax policies had also played a role.
He said that the country gathered 8.8 billion yuan of value-added tax on land use in the first quarter, an 85 percent rise over the same period last year, with local taxation administrations collecting the tax vigorously.
Revenue from the country's economically-developed east and from central China both rose 25 percent to hit 792 billion yuan and 176 billion yuan respectively, while taxes from the less developed west jumped by 30 percent to stand at 160 billion yuan.
Tax revenues from the east accounted for 70 percent of the country's total, central China 16 percent, and the west 14 percent, up 0.5 percentage point on the same period last year.
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