Full Text: Report on central, local budgets

3. Main revenue items provided for in the central budget

Revenue from domestic VAT will amount to 1.535 trillion yuan, an increase of 143.401 billion yuan or 10.3%. This figure is based mainly on GDP growth of approximately 8%, an increase in the value-added of large industrial enterprises of approximately 11%, and projected price changes in 2010.

Revenue from domestic sales tax will amount to 524.1 billion yuan, an increase of 48.188 billion yuan or 10.1%. This figure is based mainly on estimated sales of cigarettes, alcohol, refined oil products, and motor vehicles as well as a revenue increase from higher sales tax on tobacco products.

Revenue from customs duties together with revenue from VAT and sales taxes on imports will amount to 965 billion yuan, an increase of 43.728 billion yuan or 4.7%. This figure consists of 158 billion yuan of revenue from customs duties, up 6.5%, and 807 billion yuan of revenue from VAT and sales tax on imports, up 4.4%.

Revenue from corporate income tax will amount to 806.1 billion yuan, an increase of 44.218 billion yuan, up 5.8%. This figure is based mainly on expected corporate profits and the preferential income tax policy for some small enterprises with low profits that will be implemented in 2010.

Revenue from personal income tax will amount to 254.2 billion yuan, an increase of 17.528 billion yuan or 7.4%.

Revenue from stamp tax on securities transactions will amount to 51.6 billion yuan, an increase of 2.096 billion yuan or 4.2%.

Export tax rebates will amount to 707 billion yuan, an increase of 58.344 billion yuan or 9%, which will result in a decrease in revenue by the same amount. This figure is based mainly on the projected increase in general exports and the carry-over effect of raising rebate rates for some exports several times in 2009, which will increase export tax rebates in 2010.

Revenue from vehicle purchase tax will amount to 133.8 billion yuan, an increase of 17.483 billion yuan or 15%. This figure is based mainly on the projected increase in vehicle sales and the reduction of the purchase tax on passenger vehicles with engine displacement of 1.6 liters or less to 7.5%.

Non-tax revenue will amount to 207.7 billion yuan (including 1 billion yuan from the budget for state capital operations of the central government), a decrease of 45.966 billion yuan or 18.1%. This decrease is due to 41.5 billion yuan of special surcharges on oil sales overdue from previous years that were collected in 2009.