Tibet's tax revenue reached 937 million yuan in the first quarter of 2014, up 30.96 percent year on year with an increase of 221 million yuan, reported by chinatibetnews.com.

In the first quarter, the economy of Lhasa has held a good momentum, providing support to steady growth of tax revenue.

Boosted by traditional festivals and booming economy, enterprises thrived in both production and sales. The overall amount of individual income tax topped that of the four main tax categories that 80 per cent tax revenue came from.

Individual income tax reported an 8.74 percent increase of over 20 million yuan in revenue, amounted to 249 million yuan, accounting for 26.66 percent of the total.

Wholesale and retail industry, tenancy and business services are the remarkable tax-paying lines, contributing 60.1 per cent of the whole revenue.

The turnover of wholesale and retail industry is 282 million yuan, up 113.52 percent YoY, with an increase of 150 million yuan.

The turnover of tenancy and business services totaled 280 million yuan, up 103.16 percent YoY, with an increase of 140 million yuan.

The tax authority of Tohlung Dechen County ranked the first in tax collecting, turning in a substantial proportion as much as 35.39 per cent of the whole city’s revenue.

Propelled by the fast development of industrial parks and favorable investment policies, the tax revenue of Tohlung Dechen County, Taktse County and Chushur County multiplied.

Key enterprises are the biggest contributor. In the growing economy, newly-started enterprises gained momentum from policy boons.

Non-public ownership enterprises has seen their combined profits rising by 32.5 percent year on year to 900 million yuan in the first quarter of 2014.