Tax revenue up 24%

China's tax revenue is projected to reach a record RMB2.5rtn (US$304bn) for 2004, up 24% year-on-year, the State Administration of Taxation said. The figure excludes customs tariffs and agricultural taxes. Officials said the rapid increase was due to China's rapid economic growth coupled with improved efforts by tax bureaus in collecting taxes and crackdowns on tax evasion. During the first 11 months of this year, Chinese Customs collected RMB433.4bn (US$528bn) in duties and tariffs, up 28.15% year-on-year.