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Tax revenue down 6% in H1, watchdog on alert

(chinadaily.com.cn)
Updated: 2009-08-10 11:28

China's tax revenue fell 189.57 billion yuan ($27.74 billion) year-on-year to 2953.01 billion yuan in the first half of this year, a roughly six percent decrease from last year, the Beijing-based Economic Observer reported today.

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The decrease has prompted the State Administration of Taxation (SAT) to increase the number of tax audits it is performing on large enterprises, the newspaper said.

The SAT expects the audits to provide the government with at least 30 billion more yuan in tax revenue, an SAT insider said.