Taxes To tax is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay is punishable by law provide the most important revenue source for the Government of the People's Republic of China Power within the government of the People's Republic of China is divided among three bodies: the Communist Party of China, the state, and the People's Liberation Army. This article is concerned with the formal structure of the state, its departments and their responsibilities. Most, but not all, positions of significant power in the state. As the most important source of fiscal revenue, tax is a key economic player of macro-economic regulation, and greatly affects China's economic and social development. With the changes made since the 1994 tax reform, China has preliminarily set up a streamlined tax system geared to the socialist market economy The socialist market economy is the official term used to refer to the economic systems of the People's Republic of China and the Socialist Republic of Vietnam. It is also referred to as socialism with Chinese characteristics and Đổi Mới, respectively.
China's tax revenue exceeded 4.94 trillion yuan (670 billion U.S. dollars) in 2007, up 31.4 percent on 2006. This was the highest increase of any year since reforms began in 1978.[1]
The government agency in charge of tax policy is the Ministry of Finance The Ministry of Finance of the People's Republic of China is the national executive agency of the Central People's Government which administers macroeconomic policies and the national annual budget. It also handles fiscal policy, economic regulations and government expenditure for the state. For tax collection, State Administration of Taxation The State Administration of Taxation is a ministerial-level department within the government of the People's Republic of China. It is under the direction of the State Council, and is responsible for the collection of taxes and enforces the state revenue laws.
As part of US$586 billion economic stimulus package of November 2008, the government plans to reform the VAT which could cut corporation taxes by 120 billion yuan. [1]
191px x 270px | 12.70kB
[source page]
out Imposing tax according to wealth the Double Tax System helped resume the fiscal revenue and set a good example for later tax reforms The tumult of the rebellion caused residents in northern areas to migrate the South of the Yangtze River which brought a great amount of
Duncan
hu, 07 Jan 2010 09:30:06 GM
States build . taxation systems. , but taxation also builds states (indeed modern states were largely born out of the need to create efficient tax-raising bureaucracies). So if the key to development is the combination of an effective state and ... In Mauritius, the government has been successful in bringing small businesses into the tax net by offering targeted access to finance; in . China. , larger firms may be willing to pay higher rates of local taxation in return for more ...
