China's tax revenues up in 2006

Tax revenues jumped 22% in China in 2006, driven upwards by economic growth and official efforts to improve tax collection, AP reported. Tax revenues for the year totalled US$480 billion, according to the State Administration of Taxation. The 2006 increase follows a similar 20% jump in 2005 and, with official economic growth expected to stay close to 10% in 2007, tax revenues are likely to continue growing. As a percentage, tax collection from private businesses is growing faster than total revenues, although the tax agency did not give details, AP reported. The tax figure does not include import tariffs and taxes on land use and real estate.