China Customs Revenue--China Customs Revenue Exceeds 1T Yuan

October 22 -- China recorded a 46 percent year-on-year increase in customs revenue nationwide to 1.00059 trillion yuan as of October 14, reports Caijing, citing data from the General Administration of Customs.

Of the total, customs duties reached 162.98 billion yuan and import linkage taxes hit 887.61 billion yuan, up 49 percent and 45 percent year-on-year respectively.

Customs revenues from the 11th Five-Year Plan period are expected to total 4.41 trillion yuan.

During the first three quarters of 2010, the value of China's imports increased 42 percent year-on-year to 1.014 trillion yuan.

The General Administration of Customs attributes the growth in customs revenue to the overall development of China’s economy, strengthened tax collection and administrative support, as well as the higher prices of imported goods.

October 22 -- China recorded a 46 percent year-on-year increase in customs revenue nationwide to 1.00059 trillion yuan as of October 14, reports Caijing, citing data from the General Administration of Customs.

Of the total, customs duties reached 162.98 billion yuan and import linkage taxes hit 887.61 billion yuan, up 49 percent and 45 percent year-on-year respectively.

Customs revenues from the 11th Five-Year Plan period are expected to total 4.41 trillion yuan.

During the first three quarters of 2010, the value of China's imports increased 42 percent year-on-year to 1.014 trillion yuan.

The General Administration of Customs attributes the growth in customs revenue to the overall development of China’s economy, strengthened tax collection and administrative support, as well as the higher prices of imported goods.

Source: Capital Vue