在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

Make me your Homepage
left corner left corner
China Daily Website

Fiscal revenues up in July, annual target 'tough'

Updated: 2013-08-14 07:38
By Wei Tian ( China Daily)

Growth in fiscal revenue at all levels of government continued rising in July, but realizing the full-year target will be an arduous task amid an economic slowdown and pending tax cuts, the Ministry of Finance said on Tuesday.

Last month, revenue of governments at all levels was 1.18 trillion yuan ($193 billion), up 11 percent year-on-year, according to a statement on the website of the Ministry of Finance.

Cumulative fiscal revenue for the first seven months of 2013 expanded 8 percent, accelerating from 7.5 percent growth in the first six months, to 8.04 trillion yuan.

However, the growth rate was 3.6 percentage points slower than in the comparable year-earlier period.

Income for the central government rose 8.8 percent in July alone, while that of local governments was 13.5 percent higher that month.

In June, nationwide fiscal revenue grew 12.1 percent. In the first five months of this year, the figure was slightly more than 6 percent.

Assuming steady economic growth in the coming months, "the cumulative growth rate of fiscal revenue at the central government level would increase gradually," according to the ministry.

"However, influenced by factors such as slowing industrial output, a declining producer price index and more tax cuts during the expansion of the value-added tax pilot program, it's still a very difficult task to realize the full-year target," the statement said. It called for more effective tax-collection efforts.

Fiscal revenues up in July, annual target 'tough'

Despite signs of improvement in the central government's fiscal revenue picture, the growth rate in the first seven months was 3.6 percent - still 4.4 percentage points below the annual target of 7 percent.

Local governments saw faster fiscal income growth, the result of a 43 percent increase in property transaction tax revenues, as well as 20-percent growth in land value-added tax and car purchase tax.

However, local authorities are also facing unprecedented pressure involving debt repayments and rising expenditures to improve living standards. Overall fiscal expenditure picked up 8.9 percent in the first seven months, with that of the central government growing 4.4 percent and the local government level rising 9.8 percent.

An earlier research report has said local governments face 2 trillion yuan in debt repayments this year.

Consumption tax revenue shrank 1.8 percent due to lower levies on cigarettes, alcoholic beverages and petroleum products.

Bai Jingming, deputy director of the Research Institute for Fiscal Science under the Finance Ministry, said second-half fiscal revenue would outstrip that of the first half, because of an expansion in the service sector and an improving external economic environment.

But he also noted the pressure faced by local financial authorities, such as from tax cuts.

"Tax income in central and western regions is generally growing faster, but the momentum will slow when VAT reform is extended to these regions."

On Aug 1, a pilot program to replace the business tax with VAT in nine industries expanded to the entire country. This reform is expected to save enterprises about 120 billion yuan in taxes this year.

 
8.03K
 
...
主站蜘蛛池模板: 人人爱人人 | 天天操网站 | 91禁在线观看 | 亚色av| 久久视频这里只有精品 | 色婷婷久久 | 欧美日韩国产一区 | 亚洲视频在线播放 | 国产日韩欧美在线观看 | 4hu在线 | 三级网站在线 | 天天干狠狠操 | 日韩成人中文字幕 | 激情都市亚洲 | 北岛玲av | 99国产精品99久久久久久 | 91伦理| 日韩高清一区二区 | 91精品在线播放 | 久久精品视频国产 | 一区二区国产精品 | 伊人久久影院 | 午夜成人在线视频 | 毛片导航 | 欧美999 | 久久综合久 | 日韩一区二区在线观看视频 | 欧美精品一区二区在线观看 | 日本aaaa | 亚洲精品系列 | 黄色三级小说 | 黄色片中文字幕 | 成年在线观看 | 久久免费精品 | 午夜激情网| 国产黄色av网站 | 黄色av免费| 中文字幕黄色片 | 日本福利视频 | 国产做受网站 | 青青草久草 |