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China's stock transaction tax revenue down 50% in Nov.


12-13-2016 16:27 BJT

China's public budget revenue increased 3.1 percent year on year in November, registering at 1.14 trillion yuan. Among the sources, tax revenues dropped during the month.

The central government's fiscal revenue grew 8.2 percent year on year while local governments' was down 1.4 percent. China's value added tax reform continued to show its effects.

VAT increased 46.4 percent for the month while business tax was down 96.6 percent. During the month, stamp taxes for stock transactions dropped substantially, down 51.2 percent year on year.

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