Local tax soared to 241 billion yuan in Fujian last year

( chinadaily.com.cn )

Updated: 2015-01-15

Local taxation agencies in Fujian province reported accrued revenue of 241 billion yuan ($39 billion) for 2014, which is a 10 percent increase from the previous year.

Of this, 169 billion yuan is tax revenue, a year-on-year 9.4 percent growth, and 60 billion comes from social insurance fees, up by 11.6 percent.

The figures were revealed by the provincial taxation authority at a working conference on Jan 14.

Local taxation agencies have done quite a good job to achieve the tax revenue hike amid an economic downturn and a variety of tax breaks, said Chen Qingwen, head of the Fujian Local Taxation Bureau.

Fujian rolled out a number of tax incentives boosting consumption and bolstering development of small and micro-enterprises, which were exempted from 10.5 billion yuan in tax in 2014.

The local taxation agencies also cut red tape and improved work efficiency, he added.

In 2015, the Bureau will strive to apply for more preferential tax policies in accordance with the construction of the free trade zone. It will continue to improve services such as enhancing the online tax payment system, adding more self-assistance terminals and promoting the paperless office.