Custom Tax News
- China's customs revenue up 17.7 pct from Jan. to Nov.
Date: 6-Dec-2006 Sources: (Xinhua Online)
China's customs revenue reached 565.3 billion yuan (72.5 billion U.S. dollars) during the January-November period of this year, an increase of 17.7 percent from the same period last year, the General Administration of Customs said on Tuesday.
During the eleven-month period, the country's customs office collected tariffs worth 105.4 billion yuan, and import taxes of 459.9 billion yuan, according to the customs.
The administration expects that total revenue will exceed 600 billion yuan this year for the first time in history.
Sources with customs attributes the revenue increase to China's import surge after its accession to the World Trade Organization and price hikes of resource products on the international market.
The price up of crude oil, refined oil, alumina and copper ores helped increase customs revenue by more than 20.5 billion yuan during the period, accounting for 24.1 percent of the total revenue growth, the administration said.
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