China's tax revenues rise 22.6 pct in 2011

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China's tax revenues surged 22.6 percent year-on-year to 8.97 trillion yuan (1.42 trillion U.S. dollars) in 2011, the Ministry of Finance said Tuesday.

The tax revenue growth was higher than a 6.8-percent rise in the fourth quarter of last year, but slowed from a 27.2-percent increase in the second quarter and 32.4-percent growth in the first quarter, the ministry said in a statement on its website.

Receipts from value-added tax and turnover tax rose 15 percent and 22.6 percent, respectively, in 2011, unchanged from one year earlier, while revenues from corporate income tax surged 30.5 percent, up from a 21.3-percent rise one year earlier, according to the statement.

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