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Cover Stories Series 2013> Export Era Ends> Video
UPDATED: January 22, 2013
China's 2012 Tax Income Rises 11.2 Pct
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The data from the State Administration of Taxation shows that China collected more than 11 trillion yuan ($1.8 trillion) in taxation last year, an increase of 11.2 percent year on year.

Of the income, export tax rebates grew 13.3 percent from a year earlier to more than 1 trillion yuan ($160.6 billion), boosted by the country's favorable export policies. Money collected from personal income tax dropped 8 percent year on year, while the individual business tax income declined 12 and a half percent.

The government has stepped up tax reduction efforts over recent years in a bid to buoy the economy. In 2011, it raised income tax exemption thresholds for wage-earners and those owning individual businesses.

(CNTV.cn January 21, 2013)



 
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