Taxation in the People's Republic of China

By Jinyan Li | Go to book overview

The reforms to the tax system outlined here, in particular the reform of the income tax and turnover tax systems, would create a simpler structure and greatly facilitate better administration. In addition, in order to satisfy the above requirements, the State Administrative Bureau of Taxation (SABT) needs to be manned with more qualified tax collectors and auditors, and data-processing systems need to be adopted to assist tax collection. To solve the problem of the central tax policy being interpreted and implemented in diverse ways across the country and to ensure the proper collection of central taxes, the SABT should be directly responsible for tax collection rather than relying upon local tax authorities to collect and remit the tax to the Central Government.


CONCLUDING REMARKS

The new importance assumed by taxation in China in the past decade has been largely due to the introduction of economic reform policies. Future tax reforms will undoubtedly be influenced by further developments in economic and political life in China. The recent economic reforms have brought about some encouraging economic results in terms of consistently high rates of growth for gross industrial and agricultural production and the improvement of people's living standard. The "open to the world" policy has returned China to the world community. Western technology and ideology have inevitably shed new light on ancient Chinese culture and on the socialist planned economy through the windows opened in the past few years. Economic progress has, however, been accompanied by new problems- social, economic, and political. Once the market was permitted to exist, conflicts between the market economy and the planned economy have become obvious. The reforms have produced a noticeable restiveness among the people, especially in major cities and among young people, and have generated demands for increased political participation and further reforms. The inability of the Chinese leaders to agree on and accept the notion that economic reform and modernization require a new set of ideological principles and approaches to the management of social, political, and economic development may delay or even jeopardize the reforms.

In view of the dramatic changes occurring in Eastern European countries, political and social reforms in China seem inevitable. These changes would hopefully facilitate the economic reforms. Since the previously closed and centrally planned system has been shown to be inefficient and has malfunctioned, a transformation to a market-oriented economy has become a promising solution to the economic problems in China. In carrying out these reforms in the 1990s, tax policies can be expected to play as important a role as they have in the 1980s.


NOTES
1.
R. A. Musgrave, Fiscal Systems ( New Haven: Yale University Press, 1969), pp. 3- 32; R. A. Musgrave, P. B. Musgrave, and R. M. Bird, Public Finance in Theory and Practice

-173-

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Taxation in the People's Republic of China
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Preface ix
  • 1 - Evolution of China's Tax System 1
  • Notes 26
  • 2 - Taxation of Goods and Services 31
  • Notes 45
  • 3 - Income Taxes on Individuals 51
  • Notes 63
  • 4 - Income Taxes on Domestic Enterprises 69
  • Notes 87
  • 5 - Income Taxes on Foreign Investment 99
  • Notes 116
  • 6 - Agriculture Tax 125
  • Notes 133
  • 7 - Local Taxes 137
  • Notes 146
  • 8 - Evaluation of the Current Tax System and Prospects for Future Reform 151
  • Notes 173
  • Selected Bibliography 177
  • Index 191
  • About the Author 195
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