(MENAFN) Newly released data showed that China has collected USD442.7 billion in taxes in the first-quarter period of 2015, up 3.4 percent over the same period a year earlier, Xinhua reported.
The growth pace in the January-March period was slower than the 9.9 percent collected in the same period of last year, the Chinese State Administration of Taxation said in a statement.
The authority attributed the slow growth partially to its economic slowdown during the period. China's economy grew 7 percent in the first quarter, the lowest quarterly growth rate since 2009.
Tertiary industry tax accounted for 53.7 percent of the total in the first quarter, compared with a 53.3-percent share in the same period last year, the statement showed.
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