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2026-09-20 11:54:11
[Tax Revenue Up 5.9% in First Eight Months] The latest tax data released by the State Taxation Administration shows that tax revenue collected by tax authorities nationwide increased by 5.9% year-on-year in the first eight months of this year. Data shows that the Producer Price Index (PPI), which is highly correlated with tax revenue, rose by 2% cumulatively in the first eight months, driving rapid growth in tax revenue calculated at current prices. Meanwhile, the capital market has been generally active this year, with the average daily turnover of A-shares reaching 2.7 trillion yuan in the first eight months, a 72.8% increase compared to the same period last year, leading to rapid growth in related taxes and industry tax revenue. Specifically, securities transaction stamp tax increased by 82%, and personal income tax on restricted stock transfers increased by 59.7%. Tax revenue from the securities industry increased by 65.6% year-on-year, while tax revenue from the insurance industry and other financial industries increased by 14.6% and 18.5% respectively. Tax revenue from other industries was also boosted by increased returns from stock market investments by related companies. In addition, the government has standardized some tax incentives that are not in line with high-quality development or the current situation this year, contributing to the increase in tax revenue. According to reports, from the perspective of taxpayers, tax revenue is mainly contributed by large enterprises, while small and micro enterprises enjoy more tax incentives. For example, value-added tax (VAT) is exempted for small-scale taxpayers with monthly sales below 100,000 yuan, and the actual corporate income tax burden for qualified small and micro-profit enterprises is reduced to 5%. These measures have played a very important role in reducing the tax burden on the large number of small and micro enterprises. Tax data shows that in the first eight months of this year, the top 10,000 taxpayers accounted for nearly half of all tax revenue, and the top one million taxpayers accounted for 90% of all tax revenue, while other enterprises, including small and micro enterprises, accounted for only about 10%. (CCTV News)
