From The Financial Times:
China’s tax revenues have soared by about 30 per cent this year, state media reported on Wednesday, driven by rapid economic growth, bumper corporate profits, more effective collection and a crackdown on evasion.
Tax revenue growth of this level would be China’s highest in more than two decades. Beijing’s bulging coffers mean it enjoys increased fiscal freedom, with preparations already under way to raise the individual income tax threshold and to expand spending aimed at easing the growing wealth gap between urban and rural areas. [Full Text]
