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Fiscal & Tax Revenue

Fiscal & tax revenue 2016

Updated: Feb 28, 2017 National Bureau of Statistics Print
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The general public budget revenue reached 15.96 trillion yuan($2.40 trillion) in 2016, an increase of 682.8 billion yuan or 4.5 percent over the previous year.

This was a sharp slowdown from the 8.4 percent in 2015 and 8.6 percent in 2014, partly because the country's business tax was replaced with a value-added tax, the ministry said in an online statement. The slow growth was also due to downward economic pressures. Despite a stabilizing economy, the growth in fixed-asset investment and industrial output fell, hindering fiscal revenue growth.

The central government collected 7.24 trillion yuan in fiscal revenue, up 4.7 percent year-on-year, while local governments saw fiscal revenue rise 4.2 percent to 8.72 trillion yuan.

Note: Data for general public budget revenue from 2012 to 2015 as shown in the figure were final accounts, and that of 2016 was executive accounts. [Source: National Bureau of Statistics]

Of the total general public budget revenue, the taxes collected in the whole year reached 13.04 trillion yuan, an increase of 543.2 billion yuan or up by 4.3 percent.

Value-added tax jumped 30.9 percent year-on-year to 4.07 trillion yuan in 2016, while business tax nosedived 40.4 percent to 1.15 trillion yuan. Consumption tax fell 3.1 percent due to a fall in the output and sales of tobacco and refined oil.

Fiscal expenditure rose 6.4 percent year-on-year, to 18.78 trillion yuan.

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