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Q1 tax revenue reaches 1.51 trillion yuan

(Agencies)
Updated: 2008-04-17 13:48

China collected 1.51 trillion yuan ($214.29 billion) of tax in the first quarter, a rise of 33.8 percent year-on-year, the State Administration of Taxation said yesterday.

Corporate and individual tax revenues stood at 381.4 billion yuan in the first quarter, up 34.5 percent from a year ago, accounting for 25.6 percent of the total.

China collected 59.7 billion yuan in stamp taxes from share transactions in the first quarter, a surge of 387.8 percent compared with the same period in 2006.

China tripled the stamp duty on stock trades to 0.3 percent of their transaction value in May of last year.