Shanghai reports 12.5% y/y drop in Q1 tax revenue ...Middle East

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Shanghai reports 12.5% y/y drop in Q1 tax revenue
source : Devdiscourse ( Middle East ) () 59
Tax revenues in the first quarter for China's commercial hub of Shanghai fell 12.5% from a year earlier, led by a 37.2% slide in receipts from a domestic consumption tax, government data showed. Receipts from corporate income tax fell 11.9% in January-March from a year earlier, according data released by Shanghai's tax bureau on its website on April 10. Shanghai's first-quarter tax revenues totalled 549.1 billion yuan ($79.56 billion), versus 627.4 billion yuan a year earlier, the data showed.

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