In January, the national fiscal revenue amounted to RMB865.866b, RMB252.705b more from the same month last year, up 41.2%, of which the revenue at the central level stood at RMB453.791b, up 53.1% year-on-year; and that at the local level RMB412.075b, up 30.1% year-on-year. In February, the national fiscal revenue was RMB494.497b, RMB83.674b more from the same month last year, up 20.4%.

From January to February, the national accumulatively fiscal revenue came up to RMB1.360363t, RMB336.379b more from the same period last year, up 32.9%, of which the revenue at the central level reached RMB702.753b, up 36%; and that at the local level RMB657.61b, up 29.7% year-on-year. The tax revenue of the fiscal revenue was RMB1.247347t, up 35% year-on-year; and non-tax revenue RMB113.016b, up 12.7% year-on-year.

The main reasons why the revenue rose rapidly in the first two months are that: firstly, the continuously economic recovery drove the tax increase. Secondly, the related supporting work including the fuel tax reform, cancellation of highway maintenance fee and other fees and increase of corresponding consumption tax implemented as of last year has been still conducted at the beginning of this year, with the slight increase of fuel consumption tax in January and February.

Source: Textile World