亚洲视频免费一区,国产欧美综合一区二区,亚洲国产观看,91精品啪在线观看国产91九色,日本又黄又粗暴的gif动态图含羞,麻豆国产一区二区在线观看,中文字幕在线二区

Make me your Homepage
left corner left corner
China Daily Website

Fiscal/Tax reform

Updated: 2013-11-05 16:16
( chinadaily.com.cn)

Why this is important:

China introduced a tax-sharing system in 1994 to increase the central government's tax revenue. Under the tax overhaul, value added tax - the single largest source of Chinese government revenue - was shared between the central government (75 percent) and local governments (25 percent).

With such a disparity, local governments were forced to devise ways to fund their expenditures and increasingly rely on land transfer.

Mounting debts have become the Sword of Damocles for local governments, of which the financial accounts have been left in the red after years of fervor for infrastructure investment.

What to expect:

Adjustments to tax revenue sharing among different levels of government are expected to be discussed at the meeting.

Tax on resources and expansions of property tax can also be on the agenda, Jia Kang, director of the Research Institute for Fiscal Science under the Ministry of Finance told The Wall Street Journal.

 

 
...
Hot Topics
...
...