In the first four months of the year, it was reported that tax revenue in China increased by 12,9 percent on an annual basis. According to the data released by the Ministry of Finance of China, tax revenue reached 12,9 trillion 7 billion 37 million yuan in the first four months of the year, up 900 percent year-on-year, and the country's fiscal income is mainly due to taxation.
The data showed that domestic value added tax increased by 58 percent in the first four months of the year, driven by factors such as the recovery of the economy and the payment of taxes delayed last year for manufacturing SMEs.