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Effects of value-added tax reform shown in Q3

Reporter: Yang Chengxi 丨 CCTV.com

10-19-2016 17:04 BJT

China's public budget revenue stood at 12 trillion yuan for the first nine months of this year, increasing 5.9 percent from a year earlier.

That's according to the National Bureau of Statistics on Wednesday. Revenue from value added tax was up 24 percent year on year, and business tax revenue dropped 20 percent.

That's because of the full introduction of the value added tax reform in the country. When the two categories are combined, revenue dropped 10, 18 and 21 percent respectively in July to September.

Officials say that shows some decreases in Tax burdens as a result of the VAT reform.

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