China's 2010 fiscal revenue to top 8t yuan
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China's fiscal revenue in 2010 is set to top 8 trillion yuan ($1.19 trillion), the National Business Daily reported on Tuesday.
The newspaper used existing data from 2010 and analyzed 2009 numbers to estimate the year's revenue.
The country's fiscal revenue in the first 11 months of 2010 amounted to 7.67 trillion yuan, up 21.1 percent year-on-year, according to Xinhua News Agency.
As for fiscal revenue in Dec of 2010, even without increase from that in Dec 2009, the figure is likely to surpass 500 billion yuan. Revenue in Dec 2009 hit 508.4 billion yuan, the paper reported.
China's fiscal revenue stood at 6.85 trillion yuan in 2009, according to Xinhua News Agency.
In the face of such a rapid growth rate, experts are arguing whether China's macro tax burden is overloaded, and some are urging the government to adopt structural tax cuts and reform tax collection and management.
Structural tax cuts and reform of tax collection and management are imperative in 2011, according to Liu Huan, the vice-president of School of Taxation of the Central University of Finance and Economics.
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