China's 2012 tax incomes rise 11.2%

BEIJING - China collected 11.07 trillion yuan ($1.76 trillion) in taxation last year, an increase of 11.2 percent year-on-year, the State Administration of Taxation data showed Wednesday.

Of the incomes, export tax rebates grew 13.3 percent from a year earlier to 1.04 trillion yuan boosted by the country's favorable export policies, according to the data.

Money collected from personal income tax dropped 8 percent year-on-year, while the individual business tax income declined 12.5 percent, the data showed.

The government has stepped up tax reduction efforts over recent years in a bid to buoy the economy. In 2011, it raised income tax exemption thresholds for wage-earners and those owning individual businesses.

The incomes do not include customs duties and vessel tonnage taxes, the administration said.

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