Study on tax system reform in China
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1 Study on tax system reform in China Zhang Xuedan RIFS,MOF,PRC
2 Main Contents 一 reform 二 Tax revenues since 1994 三 Problems of current tax system 四 Some thoughts on new tax system reform in China
3 一 After 1978, the speed of reform and opening to the out side got more and more quickly. In order to fit the new situation, Chinese tax system undertook a series of reforms and improvements. During the past years, the course tax reform had undergone mainly two stages: the first was from late 1970 s to the beginning of 1990 s. At this stage, the main task of the tax system reform was to break the original tax system, and to establish new tax system that adapt to the new situation. The second was after 1994.
4 一 ( 一 )The tax system reform from the end of 1970 s to the beginning of 1990 s. Before 1979, under the traditional economic system, Chinese tax system was very simple, especially after the tax reform in 1973, nearly to the single tax system.
5 一 In 1980 s, there were great changes occurring in Chinese economy, multiple economic sectors and multiple patterns of management coexisted. Under the new situation, the original single tax system narrowed the levy scope, caused unfair on tax burden, and so on. In order to fit the new conditions, Chinese government set on tax reform, gradually established income tax system, and adjusted industrial and commercial tax, strengthened tax adjust function on economy, social distribution, and so on. The main measures are below:
6 一 1. The first step of the replacement of profit delivery by taxes. Since Jun. 1 in 1983, according to the principle to separate the function between social management and stateowned assets management, Chinese government began the replacement of profit delivery by taxes among stateowned enterprises. Government levied 55% corporation income tax from stated-owned enterprise instead of profits.
7 一 In succession, we introduced adjustment tax of state enterprise, enterprise of collective ownership income tax, private business income tax. At the same time, in order to improve individual income distribution policy, Government also introduced personal income tax, individual income adjustment tax, and income tax of urban and rural individual industrial and commercial households.
8 一 2. The second step of the replacement of profit delivery by taxes The main problem after the reform of substitution of tax payment for profit delivery was that the items of taxation were still simplified, so the role of taxation regulating the economy does not work adequately; Distribution method for the after tax profit was still complicated, the relationship between the state and the enterprise was still not formalized; The problem that the profit level was quite different among some enterprises was still not resolved efficiently. Therefore, the State Council determined to reform the industrial and commercial tax roundly in 1984.
9 一 The guideline of the reform was: to better deal with the relationship between the state and the enterprise, resolve the problem of equalization among the enterprises completely, not only to ensure the stable increase of the fiscal revenues, but also the autonomous right and the financial power for enterprises to develop their business; to make full use of the tax leverage effect, embody the state s encouraging and confining policy, and alleviate the contradiction caused by the unreasonable price, in order to promote the nation s economy regulation and reform.
10 一 The reform covered: the state-owned enterprises pay their tax by 11 items of tax, that is to say, coexistence for tax and profit is changed gradually into tax payment substituting the profit delivery, the profit after tax is arranged by the enterprises autonomously. Thus, industrial and commercial tax levied at the circulation (turnover tax) are decomposed into product tax, business tax, Value added tax and salt tax in order to let them have a special role in different economy field.
11 一 3. To establish and improve the foreign-related tax system In order to implement the opening policy efficiently, two laws (Income tax law of People s republic of China for enterprises with Foreign investment and foreign enterprises, Individual income tax law of People s republic of China) were enacted by national people s congress in September, 1980, Income tax law of People s republic of China for foreign enterprises was enacted in Meanwhile, the product or business that enterprises with foreign investment produce or import were administrated by the industrial and commercial consolidated tax law of People s Republic of China (draft) enacted in 1958, Vehicle license tax was levied on the vehicle which is owned by oneself and in use, Urban real estate was levied on Urban real estate tax, a series of foreignrelated tax system were established primarily.
12 一 In 1991, in order to improve the income tax law for enterprises with foreign investment and foreign enterprises, the Standing Committee of National People s Congress passed the Income tax law of People s republic of China for foreign investment enterprises and foreign enterprises, meanwhile, Income tax law for join venture enterprises and Income tax law for foreign enterprises were repealed.
13 一 Foreign-related tax system was established through summarizing the China s tax experience, learning from international practice and combining with the new nation s economy circumstance. At the precondition of protecting nation s benefits, the new tax system is of the character that tax burden is chosen to the lighter, tax preference to the wider, procedure to the more simplistic and enterprises are treated equally.
14 一 4. To restore and strengthen the tariff system In order to efficiently implement the opening policy, develop foreign trade, enlarge the international intercourse and make full use of the custom, the custom administration attached to Ministry of Foreign Trade was come back into custom general administration attached to State Council from Jan. 1,1980.
15 一 In order to adapt the new situation, the custom law of People s Republic of China was approved by the Standing Committee of National People s Congress in January 1,1987. Regulations of the People s Republic of China on import and export tariff enacted in March, 1985 was revised for the first time by State Council in September, 1987, then it was enacted again put into effect in October 15 of this year. The regulation provides that all the importexport goods allowed by People s Republic of China should levy import tariff or export tariff except that there was other regulation according to the tax rules on imports and exports in the customs. According to the principle of equity and mutual benefit, the rate of imports tax was divided into normal rate and minimum rate to encourage the development of direct trade. The import goods from counties that have no mutual benefit trade treaty or agreement with China will enjoy the minimum rate.
16 一 5. Restore and improve the agriculture tax system As the emergence and development of household contract responsibility system with remuneration linked to output after 1979, the agriculture tax system was reformed and improved applicably. Agriculture tax levied with tax threshold and in the form of tax paid by household respectively. Tax exemption and reduction policies for provinces in pasturing area were adjusted timely. Agriculture and forest specialty tax and cultivated land occupation tax were introduced commonly, and the contract tax policy was adjusted and improved in time.
17 一 Through above tax reform, before 1994, a series of single tax system adopted in the traditional planning economy were changed into a multi-category of taxes, multi-stage and multi-level tax system based on turnover tax and income tax and with mutually assorted other category of taxes.
18 一 ( 二 )Tax reform in The basic principle for tax reform in ) To mobilize the enthusiasm of both central government and local government, strengthen the macro-regulation ability of central government. To adjust taxation structure, to divide category of taxes and determine the tax rate reasonably, in order to create a basis for implementing tax-shared system and harmonizing the income distribution relationship between central government and local government. The proportion of tax income against GDP should be increased gradually, and the proportion of fiscal revenues of central government against total fiscal revenues should be determined reasonably.
19 一 2) Role of tax to adjusting the individual income and economy development between different areas should be exerted to promote the harmonious development of economy and society and achieve the common wealth. 3) Tax burden should be equal and fair-competition be promoted. By the unifying the enterprises income tax system and improving the turnover tax system, it was to make sure that tax burden among the enterprises are equal approximately, in order to create the condition for enterprises compete fairly in the market. 4) It should embody the national industry policy, promote the adjustment of economy structure, keep the nation economy having a continuous, rapid and healthy development, and improve the economy benefit wholly.
20 一 5) The taxation system should be simplified and standardized, the category of taxes that had not satisfied with development of economy should be repealed, the overlapping category of taxes should merge, some new the category of taxes should be introduce in order to make the tax system simplified and efficient. Learning from international practice, in normative form, the integrity of tax system was protected in order to maintain the unification and solemnity of the tax law.
21 一 2. The content of tax reform in 1994 According to the aim of establishing the socialist market economy system, a unified, open and equal competition market need to be set up, accordingly, an equal, reasonable, just tax system should be established. The tax system established through substitution of tax payment for profit delivery and reform of agriculture tax system in 1980s had not satisfied with the request of socialist market economy in China. In1994, the Chinese tax system was overhauled, among which the key point was the reform to turnover tax and income tax, meanwhile reform to other category of taxes and to the tax administration system were done.
22 一 (1) Turnover tax reform According to the principle of embodying the equity, neutrality, transparency and universality, trying to keep the gross tax burden stable, by learning from international practice, the traditional practice that different rate of turnover tax were designed by product was changed into the pattern that VAT was imposed on products commonly at the production and transaction stage, the consumption was levied on few selected products, and business tax was levied on service supply, transferring intangible assets and selling real estate. The turnover tax system after reform was composed of VAT, consumption tax and business tax, which would be the same with domestic and foreign investment enterprises. The product tax on domestic investment enterprises and the industrial and commercial consolidated tax on enterprises with foreign investment and foreign enterprises were repealed. The original products (agriculture, forest, animal husbandry and aquatic) levied product tax was changed into levying agriculture specialty tax.
23 一 (2) Income tax system reform Income tax system reform included enterprises income tax and individual income tax. Enterprises income tax aimed at harmonizing and improving the profit distribution relationship between state and enterprises, to create an equal competition condition for all kinds of enterprises. The main content of the reform covered that repealing the practice that income tax was divided by enterprises form of ownership, state-owned enterprises income tax, collective enterprises income tax and private enterprises income tax merged into enterprises income tax,the unified domestic investment enterprises income tax was implemented. The goal of individual income tax was that more tax on the people with higher income, less or no tax on the people with lower income, and embodying the principle that the burden of tax payer would not increase and the gross tax burden would have some decrease. The individual income adjustment tax, individual income for foreigners, income tax for urban and rural individual with industrial and commercial business were merged into the unified individual income tax system.
24 一 (3) Other industrial and commercial tax system reform a) The scope of natural resource tax was enlarged. b) Land appreciation tax was introduced to adjust the exorbitant profit from the transaction of real estate moderately; c) Some other items of taxes were adjusted, for example, repealing the market transaction tax, livestock transaction tax special tax on oil burning, bonus tax and wage adjustment tax. Special consumption merged into consumption tax. Salt tax merged into natural resource tax. And the right of levying or stopping levying was transferred to local government.
25 一 (4) Agriculture tax system reform The key point of the agriculture tax system was agricultural specialty tax. In order to further adopt the development reality of agriculture, forestry, animal husbandry and aquatic production and embody the request of tax-shared system completely, strengthen the effect of VAT, the original agriculture and forest specialty tax, original product tax and item of tax of agriculture, forestry, animal husbandry and aquatic product merged into agriculture tax on agriculture specialty (in brief, agriculture specialty tax), through this, the tax scope was enlarged, tax rate for some products lowered moderately, the tax exemption and reduction were defined more clearly, and the payer for withhold and emit tax also was defined.
26 一 After the reform of tax system in 1994, the tax system become more reasonable and the tax burden become fairer, illegal tax deductions and exemptions are restrained and the ability of collecting fiscal revenue and macroeconomic adjustment functions of tax are more powerful. Generally speaking, new tax system keeps former tax burden level, does not produce large price fluctuation and it plays an important role to the foundation and development of socialist market economy system. It has been proved that the tax system reform gains breakthrough and historic success.
27 二 Tax revenues since Tax revenues since Since 1994,tax revenues have rapidly increased in China, from billion RMB yuan in 1994 to billion RMP yuan in 2006, average annual growth rate was 18.2%, average annual growth rate of GDP in the corresponding period was 13.1%. The ratio of tax revenues to DGP moved up, from 10.5% in 1994 to 17.8% in 2006 (table 1)
28 Tax revenues since 二二 Tax revenues since 19 94
29 二 Tax revenues since Tax revenues since The reasons of tax revenues increasing are as follows: 1.Economy development, this is the main reason of tax revenues increasing; 2.Tax revenues from import, including VAT, consumption tax and duty of import. The increasing rate was 20% in recent years. 3.Increasing of enterprise income tax and individual income tax along with the increasing of enterprises profits and individual income; 4.Strengthening tax collection and administration management.
30 tax system 三 Problems of current Problems of current The main problems of current tax system in China are as follows: 1.The structure of current tax system is not in reason Although we have had a multi-category of taxes, multi-stage and multi-level tax system based on turnover tax and income tax and with mutually assorted other category of taxes, the structure of tax system has some problems, such as (1)Overlap in tax category; (2) Some differences between domestic and foreign enterprises; (3) Some taxes don t fit for the requirement of socialist market economy.
31 tax system 三 Problems of current Problems of current 2. Problems in some tax categories (1)VAT; (2)Consumption tax; (3)Individual income tax; (4)Property tax; (5) Natural resources tax. 3. There is in a mess between taxes and fees.
32 Some thoughts on new tax system reform in China 四 Some thoughts on new tax The new round reform mainly includes 8 respects: ( 一 )VAT reform: Transition and Enlargement 1. Transition of VAT, from productive to consumption 2. Enlargement of VAT ( 二 )Reform on Consumption tax.
33 Some thoughts on new tax system reform in China 四 Some thoughts on new tax ( 三 ) Reform on exercise tax. ( 四 ) The integration of income tax both domestic and foreign enterprises. ( 五 ) Reform on individual income tax. ( 六 )Reform on property tax ( 七 )Establish and improve taxation system on resource and environment
34 Some thoughts on new tax system reform in China 四 Some thoughts on new tax ( 八 )Collect social security tax. ( 九 ) Gradually integrate the taxation system in urban and rural area. 1.VAT extend to rural area 2. Tax on income by rural producers 3. Collect property tax uniformly on rural and urban residents 4. Collect social security tax uniformly on rural and urban residents
35 谢谢大家!
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