日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

US EUROPE AFRICA ASIA 中文
Business / Economy

Local governments 'to be hit by adjustment to VAT'

By Zheng Yangpeng (China Daily) Updated: 2016-04-07 08:00

Local governments 'to be hit by adjustment to VAT'

People enter a taxpayer service hall in Beijing, Dec 13, 2010. [Photo/IC]

A media report that local governments' share of value-added tax revenues will be raised from 25 percent to 50 percent will not make up for the disappearance of the business tax in China, according to an analyst.

Beijing may need to use other sources of revenue to compensate local authorities, the analyst said.

Zhang Lianqi, a financial expert close to the Ministry of Finance, said the increase is very likely to be introduced, while the ministry did not respond to a request for comment.

The central and local governments' proportion of VAT-China's largest tax-will be adjusted to 50-50 from 75-25, Economic Information Daily reported on Wednesday, citing a document drawn up by the ministry, for which opinions have been sought internally.

The newspaper is affiliated with Xinhua News Agency.

The change is being made to win local governments' support for the ambitious VAT reform, which by May 1 will be expanded to the property, construction, finance, and consumer services sectors. Launched in 2012 as a pilot program, the reform is aimed at eliminating repeated taxation and easing corporate burdens.

The newspaper said the draft may be opened for public opinion.

When the reform is implemented fully, business tax, once the largest tax source for local governments, will vanish, incurring huge losses for them. Local officials have argued for months that their share of the new VAT should be increased to make up for the shortfall.

VAT revenue last year totaled 3.11 trillion yuan ($480 billion).

Hu Yijian, a tax professor at Shanghai University of Finance and Economics, said a study he made showed that if the proportion is adjusted to 50-50, this in effect would be a reversion to the central-local ratio before the VAT reform.

Hu said that some regions rely more on business tax than others, so the 50-50 approach is a little unfair on regions that are rich in business tax, because they bear greater losses. Beijing could use increased tax refunds to compensate them.

However, Zhang Bin, a researcher at the Chinese Academy of Social Sciences, said the central government's share of VAT should be raised because a greater stake in VAT may encourage local governments to compete for investment more aggressively.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 国产在线精彩视频 | 国产午夜免费一区二区三区 | 一区二区在线看 | 92香蕉视频 | 欧美一区二区三区免费不卡 | av电影在线网站 | 国产精品亚洲综合色拍 | 国产一区二 | 不卡一二区 | 亚洲国产精品久久 | 亚州午夜 | 久操不卡 | 欧美国产激情二区三区 | 午夜精品在线观看 | 久草在线综合 | 九九九精品视频免费 | 免费在线看a | 久久精品麻豆 | 欧美亚洲国产一区 | 亚洲 欧美 自拍偷拍 | 欧美精品一区二区精品久久 | 黑人性猛交xxxx乱大交一 | 五月婷婷综合激情网 | 国产精品一区二区久久 | 人人综合网 | 五月婷丁香| 亚洲免费a | 99激情视频| 99久久这里只有精品 | 午夜院线| 欧美日韩黄 | 欧美精品午夜 | 日韩欧美视频在线 | 大陆精品自在线拍国语 | 97影院2| 久操中文| 天天操人人射 | www日韩免费高清视频 | 爱人同志国语免费观看全集 | 亚洲一区二区三区四区五区中文 | 免费一区二区三区 |