The State Taxes Bureau in southern Guangdong province collected 198.845 billion yuan of tax revenue (some US$24 billion) in 2003, an increase of 19.4 per cent from the previous year.

Rapid economic growth in Guangdong, which is estimated to have far exceeded an eight-year high of 13 per cent in 2003, contributed to the rise in spite of serious SARS outbreak earlier in the year.

The total amount included 94.5 billion yuan (US$11.3 billion) of added value taxes, a rise of 13.6 per cent year-on-year; 8.55 billion yuan (US$1.03 billion) of excise (consumption taxes), up 20 per cent; 6.8 billion yuan (US$819 million) paid by domestic enterprises, up 52.6 per cent; and 11.7 billion yuan (US$1.4 billion) from overseas-funded enterprises, up 1.8 per cent.

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