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2025-09-17 17:20:01
Tax revenue has seen a steady increase this year, driven by a stable and improving economy and a relatively active capital market. From January to August this year, tax revenue collected by tax authorities increased by 2% year-on-year, with a significant rebound in revenue growth in July and August. Huang Lixin, Director of the Institute of Tax Science under the State Administration of Taxation, stated that preliminary analysis suggests three main factors: First, the stable and improving economy. Second, active capital market transactions drove a significant increase. Capital market activity increased significantly in July and August, with the Shanghai Composite Index breaking through 3,800 points in August, a ten-year high. The total market capitalization of A-shares exceeded 100 trillion yuan, and the average daily stock trading volume reached 2.3 trillion yuan, a new high for the year. This active capital market activity not only directly led to a significant increase in tax revenue for capital market services, but also boosted tax revenue for capital market-related industries. For example, in July and August, tax revenue for the securities industry increased by over 70%, and for the insurance industry by over 10%. Furthermore, increased corporate investment income and stock dividends also led to increased corporate and personal income tax revenue. Third, taxpayers' awareness of paying taxes in accordance with the law and in good faith has significantly increased. (China Taxation News)
