China Value Added Tax revenues increase
- 13 February 2012 | Richard Asquith
Chinese VAT take has increased again with the 2011 consumption tax revenues now accounting for 27% of the state revenues – a 15% rise on 2010.
The Ministry of Finance said that the rise was due to a general increase in the balance of consumption, as opposed to production and exports, within the economy. It is anticipated to continue as domestic demand and imports increase.