The Chinese Government’s recent economic stimulus measures are attracting much attention because of its plan to increase people’s incomes and alleviate enterprises and residents’ economic burden.
Since the proposal of the Belt and Road Initiative(BRI)in 2013,the economic and trade cooperation between China and related BRI economies has flourished over the past eight years.The Chinese government has given top p...Since the proposal of the Belt and Road Initiative(BRI)in 2013,the economic and trade cooperation between China and related BRI economies has flourished over the past eight years.The Chinese government has given top priority to improving its doing-business environment to implement the national initiative of"bringing in"and"going abroad",which echoes the BRI economic activities.Being a core part of the doing-business environment,tax reforms and the building of a more growth-friendly tax environment serve as one of the key drivers to further attract foreign investment and encourage domestic enterprises to go abroad.This article starts with the background of China’s tax reforms,followed by an in-depth analysis of the corporate income tax and individual income tax reforms,and finally discusses the impacts of China’s tax reforms on cross-border investment and trade.展开更多
On 30 June 2021,China successfully completed its second annual reconciliation of individual income tax(IIT).The successful implementation of the annual IIT reconciliations in the past two years,with hundreds of millio...On 30 June 2021,China successfully completed its second annual reconciliation of individual income tax(IIT).The successful implementation of the annual IIT reconciliations in the past two years,with hundreds of millions of natural person taxpayers involved marks a significant milestone in China’s ongoing reform of the IIT system,especially regarding the tax collection and administration system for natural persons.Assessing the achievements of China’s annual IIT reconciliation requires a comprehensive analysis from various aspects,including concepts for IIT governance,system design and implementation effects.This report with the national reconciliation data as the sample uses descriptive statistics to analyze the effectiveness of China’s annual IIT reconciliation practice and the issues.The repo rt also compares the IIT filing data of six jurisdictions,including the United States and Canada,with those of China,to evaluate the effectiveness of China’s annual IIT reconciliation from an international perspective.Finally,the report offers several suggestions for further improving the IIT annual reconciliation system in China.展开更多
文摘The Chinese Government’s recent economic stimulus measures are attracting much attention because of its plan to increase people’s incomes and alleviate enterprises and residents’ economic burden.
文摘Since the proposal of the Belt and Road Initiative(BRI)in 2013,the economic and trade cooperation between China and related BRI economies has flourished over the past eight years.The Chinese government has given top priority to improving its doing-business environment to implement the national initiative of"bringing in"and"going abroad",which echoes the BRI economic activities.Being a core part of the doing-business environment,tax reforms and the building of a more growth-friendly tax environment serve as one of the key drivers to further attract foreign investment and encourage domestic enterprises to go abroad.This article starts with the background of China’s tax reforms,followed by an in-depth analysis of the corporate income tax and individual income tax reforms,and finally discusses the impacts of China’s tax reforms on cross-border investment and trade.
文摘On 30 June 2021,China successfully completed its second annual reconciliation of individual income tax(IIT).The successful implementation of the annual IIT reconciliations in the past two years,with hundreds of millions of natural person taxpayers involved marks a significant milestone in China’s ongoing reform of the IIT system,especially regarding the tax collection and administration system for natural persons.Assessing the achievements of China’s annual IIT reconciliation requires a comprehensive analysis from various aspects,including concepts for IIT governance,system design and implementation effects.This report with the national reconciliation data as the sample uses descriptive statistics to analyze the effectiveness of China’s annual IIT reconciliation practice and the issues.The repo rt also compares the IIT filing data of six jurisdictions,including the United States and Canada,with those of China,to evaluate the effectiveness of China’s annual IIT reconciliation from an international perspective.Finally,the report offers several suggestions for further improving the IIT annual reconciliation system in China.
