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Tax revenues grow by 20.7 percent in first 11 months
( 2001-12-25 14:45 ) (9 )

Chinese tax revenues grew by 20.7 percent in the first 11 months from the same period last year, but the growth rate was expected to fall to 10 percent next year, the Economic Daily reported on Tuesday.

The State Administration of Taxation reported it had received total revenues of 1.36 trillion yuan (US$164 billion) in the period from January to November, the report said.

Next year the growth rate of tax revenues was expected to slow to 10 percent, the paper quoted tax minister Jin Renqing as saying at a Monday meeting in Beijing.

Jin called on tax collectors to step up efforts in collecting income taxes, while urging them to step up administrative curbs on "tax free, low tax and late tax" loopholes.

In 2002, the administration would also step up supervision and collection of value-added, consumption, business, income and enterprise taxes, he said.