Economy

The national fiscal revenue steadily increased in the first 11 months, and the tax revenue in November increased by 5.3% year-on-year

2024-12-18   

The latest data from the Ministry of Finance shows that in November, the national general public budget revenue was 1402.9 billion yuan, a year-on-year increase of 11%, with a growth rate 5.5 percentage points higher than the previous month. Among them, tax revenue increased by 5.3% year-on-year, with a growth rate 3.5 percentage points higher than the previous month, maintaining growth for two consecutive months. The growth of major tax categories for the month: Firstly, the domestic value-added tax increased by 1.4%, marking another positive growth except for May this year; Secondly, the corporate income tax increased by 36.9%, mainly due to some companies raising their pre paid corporate income tax; Thirdly, the personal income tax increased by 11.4%; Fourthly, the stamp duty on securities trading increased by 1.7 times, mainly due to the significant increase in stock transaction volume as market expectations improved. Statistics show that in the first 11 months, the national general public budget revenue was 1.901 trillion yuan, a year-on-year decrease of 0.6%, and the decline narrowed by 0.7 percentage points compared to the first 10 months. After deducting special factors such as the increase in the tax base for small and medium-sized enterprises in the same period last year and the implementation of tax reduction policies in the middle of last year, the national income maintained steady growth. In terms of fiscal expenditure, financial departments at all levels conscientiously implement proactive fiscal policies, strengthen the coordination of fiscal resources, and ensure that key expenditures are not reduced. In the first 11 months, the national general public budget expenditure was 2.45053 trillion yuan, a year-on-year increase of 2.8%. (New Society)

Edit:Yao jue Responsible editor:Xie Tunan

Source:Economic Daily

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