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15 July 2015

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2017 Hunan General Public Budget Revenue Reaches 456 Bln CNY

2018-01-03 Download Print

In 2017, Hunan Province took in more than 456 billion CNY of general public budget revenue. This amount does not include any revenue system adjustment factor for replacing business tax with a value-added tax). This is a year on year growth of 7.38%. Local fiscal revenue was 275 billion CNY, up 4.88%. There was180 billion CNY in central fiscal revenue, which grew by 11.41%.

Fiscal revenue steadily increased in 2017. It was 1.38% higher than first of the year budget.

Tax revenue grew rapidly. Overall tax revenue, in 2017, was 356 billion CNY up 14.88% which was an increase of 12.15% over 2016.

 

Major sources were: value-added tax, enterprise income tax, and personal income tax. All increased at a double-digit rate. Consumption taxes grew relatively slow. All growth rates were higher than in 2016.

Non-tax revenue decreased significantly. In 2017, provincial non-tax income was 99 billion CNY, down 12.96% and accounted for 36.2% of the total. This was 6.3 percentage points lower than in 2016.

Please refer to www.enghunan.gov.cn when using the article.

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn