(MENAFN) A Chinese official said that his country has collected a total of USD422.1 billion in taxes in the January-March period of 2014, which is 9.9 percent higher than last year, Xinhua reported.
Total tax collected from tertiary industry increased by 13.6 percent in the first quarter, which is higher by 7.7 percent than the secondary industry, said a spokesman for the State Administration of Taxation.
Tertiary industry tax formed 53.3 percent of the total tax amount of the first three months, compared to 51.6 percent year-on-year.
The spokesman said that despite this increase in tax revenue, maintaining a fast growth record for the rest of the year will be a hard task as downward pressure was weighing on the Chinese economy.
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