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Tax Revenue Hits 2.6 Trillion Yuan

Total tax revenue remitted to the state coffers in 2004, excluding tariff and agricultural tax, hit 2.6 trillion yuan (US$310.7 billion), a jump of 25.7 percent or 525.6 billion yuan (US$63.6 billion) from the previous year, said Commissioner Xie Xuren of the State Administration of Taxation (SAT) at a Tuesday morning press conference.

The ratio of tax revenue to gross domestic product was around 19 percent, approximately 1.5 percentage points higher than the previous year.

Tax rebates totaling 420.0 billion yuan (US$50.7 billion) were granted nationwide in 2004, leaping 106 percent or 216.1 billion yuan (US$26.1 billion). Some 200.4 billion yuan (US$24.2 billion) was the rebate arrears aggregate prior to 2003; all rebates in arrears were settled.

Xie said that SAT strictly maintained the principles of tax administration within the law: all taxes due to be collected in full, no taxes to be collected in advance and no unauthorized granting of reductions and exemptions.

Tax reforms continued through the year. The new rebate system was fully implemented, while fee-to-tax reform in rural areas progressed. The pilot value-added tax conversion program was launched in the old industrial bases in northeast China. Tax administration systems and internal management were standardized and improved.

SAT sorted out and implemented preferential tax policies for development zones. It strengthened tax collection and intensified supervision. Computerization was accelerated to improve services to taxpayers.

In 2005, SAT intends to continue enhancing the quality and efficiency of tax collection and administration to ensure steady tax revenue growth in line with economic development, while improving internal management and strengthening the governance abilities of tax authorities and administrators.

(China.org.cn by Tang Fuchun, January 11, 2005)

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