BEIJING (Reuters) - China's 2016 tax revenue increased 4.8 percent from the previous year, the head of the country's tax authority said on Thursday, marking a decline from 6.6 percent growth in 2015.
Tax cuts were a main reason for lower growth in tax revenue in 2016, said Wang Jun in an interview posted to the website of the State Administration of Taxation.
China made a full switch to a value-added tax system from a flat business tax for companies last year, which the government had said would save companies 500 billion yuan in taxes for 2016.
China's Ministry of Finance has not yet published December fiscal revenue. Through November, fiscal revenue increased 5.7 percent, while tax revenue (before export rebate deductions) increased 6.0 percent.
(Reporting by Elias Glenn; Editing by Jacqueline Wong)
- All of these celebrities have had their nudes leaked 35 Pictures
- Here's what it's like to fish for your dinner at Zauo NYC (photos) 21 Pictures
- PHOTOS: The best cosplay of NYCC 2018, Day 3 44 Pictures
- PHOTOS: Looking back at Heidi Klum's best Halloween costumes 19 Pictures
- PHOTOS: Nightmare Machine, the haunted house for millennials 14 Pictures
- American Music Awards 2018: Red carpet looks, list of winners 23 Pictures
- What you need to know about MTV's 'How Far Is Tattoo Far?' 9 Pictures
- Who is Alexander Edwards, Amber Rose's new boyfriend? 9 Pictures
- Are Blac Chyna and Rob Kardashian getting back together? 8 Pictures
- Anne Frank's Diary now comes as a graphic novel 3 Pictures
- Reimagine End of Life celebrates all things death and dying 5 Pictures