The Stagnant Export Upgrading in Northeast China:Evidence from Value-added Tax Reform

China's 2004 value-added tax(VAT)pilot reform in the Northeast region,which changed the VAT from production type to consumption type,introduced a sizable tax credit for fixed investment in manufacturing industries,leading to more investment and higher productivity at firm level.This paper,however,uses difference-in-difference estimation and finds a negative structural effect;that is,the VAT pilot reform leads to a reduction in the export sophistication of Northeast cities relative to other cities in China,and the results hold for a battery of robustness checks.It is found that resources are reallocated towards less-sophisticated industries.As the products with higher export sophistication are more skill and research and development(R&D)intensive,the shortfalls of skilled labor and R&D spending hinder the upgrading process.With a new round of revitalization plans in the Northeast,policymakers should be cautious with similar structural effects and focus on increasing skilled labor supply and R&D investment.

Overview of the Reports on the Reformation of Personal Income Taxation

Presentation of the reports on the reformation of personal income taxation that have been prepared with a development plan for the Greek economy,that discuss the issue of taxation and point out its important features.The goal is the complete modernization of the tax system,so that it responds more fully to the principles of social justice,contributes to the economic development of the country and is governed by simple and modern procedures,which apply to all tax objects.The purpose of the study is to deepen the proposals for tax reform based on the peculiarities of the Greek economy,the international trends in this field and the weaknesses of the tax system.The effects of a tax reformation are analyzed and how it should take the form of the reform,which,however,requires a new legislation,which will bring about radical and deep cuts,which respond to the new conditions and the internationalization of the economy.Proposals for a set of structural measures,which are necessary for the country’s adaptation to the wider European environment and the elimination of the weaknesses that increase its distance from the other member countries.Citation of the common points of the reports on the reformation of personal income taxation and their adoption by the tax leadership.

Value-added Tax and Leverage:Evidence from China's Value-added Tax Rate Reform

This paper uses China's value-added tax(VAT)rate reform as a quasi-natural experiment to identify the impacts of VAT rate shocks on corporate financial leverage.The results indicate that the reform reduced corporate total leverage significantly.There was a decrease in short-term leverage,but long-term leverage showed no significant change.These results remained robust across a series of robustness checks.Mechanism analysis shows that increasing profitability and improving cash flows acted as intermediary channels for the reform's impact on leverage.The reform also contributed to the mitigation of the asset–liability mismatch problem and the reduction of debt risk,while having no apparent impact on corporate investments.Finally,enterprises with more elastic demand and those with lower intermediate input ratios were affected most by the deleveraging effect of the VAT rate reform.This study suggests how the VAT rate cut shaped corporate capital structure.It thus helps to explain the economic consequences of VAT rate shocks.

Brief analysis on value-added tax transformation and its influence on enterprises

From Jan. 1st, 2009, the value-added tax transformation will be performed in all industries around the country. Based on value-added tax types and retrospection of reform practices, this article analyzes the background of the national value-added tax transformation and points out the influence of full implementation of the value-added tax transformation on various enterprises.

Value-Added Tax （VAT） on Selected Financial Transactions

This paper deals with the approach to imposing value-added tax （VAT） on financial transactions. The VAT is a highly harmonized consumption tax within the European Union （EU）. VAT operational rules have been set down by the relevant directive of the Council of the EU. Under the directive, it is possible to select either exemption or taxation of financial transactions. Only the first option is permitted in the Czech Republic. Pros and cons of both models are described, in particular, the problems with determining the difference between financial transactions and other similar performance that must always be subject to tax. Potential lower VAT revenue or tax base assessment, as appropriate, seems to be crucial in the case of the taxation of financial transactions.

Analysis on the Influence of "Replacement of Business Tax by Value-added Tax" on the Cost of Highway Projects

The"replacement of business tax by VAT reform"(hereby refer to as"VAT reform"for short)is a newly promulgated and implemented tax policy,and its impact on various industries in China is very different,and the highway project industry is no exception.The implementation of the"VAT reform"will not only have a positive impact on the cost of highway projects,but will also have some negative impacts.For this reason,highway project construction corporates must actively respond.The author explores and analyzes the positive and negative effects of the"VAT reform"on the cost of highway projects,and proposes a reform strategy for highway project cost work under the background of the"VAT reform",in hope of helping with bringing out the intrinsic value of highway project cost management work.

Interregional Value-Added Tax in the Era of E-Commerce: Tax Policy Design Based on Big Data from Online Retailing

The value-added tax(VAT)in China is levied and allocated based on the origin principle.Under the background of the increasing substitution of online retail for traditional offline retail,this mechanism will exacerbate the disparity of regional tax revenue,and intensify tax competition among local governments.Therefore,reconsidering the allocation mechanism of value-added tax in China can be an important policy decision,and it is influenced by various economic and social factors.Firstly,we utilize large-scale retail transaction data from an e-commerce platform to measure regional disparities in retail and consumption among different regions and then reveals present tax policy results in revenue imbalance in different regions.Secondly,we establish a model based on game theory to illustrate how the origin principle leads to fierce tax competition among regions.Furthermore,by establishing and solving tax allocation models between local governments and the central government,this study simulates and calculates the degree of revenue imbalance under different scenarios and attempts to propose policy measures.The results indicate that implementing the destination principle will reduce regional tax imbalances.Moreover,adjusting the allocation ratio between the central government and local governments based on city levels is advantageous for further reducing regional tax revenue disparities.

China＇s Real Estate Tax Reform： Past, Present and Future

Since 1978, China＇s reform of real estate tax has made great strides with important milestones marked by the resumption of real estate tax collection on Chinese- funded enterprises and Chinese nationals. In the llth Five-Year Plan period （2006-2010）, the state administration completed the unification of tax rates for domestic and foreign- funded companies. However, the reform of real estate tax still requires many modifications during the 12th Five-Year Plan period （2011-2015）. The new plan should strive to streamline the tax system, adjust the tax base and tax rates, and delegate taxing authority.

Design and impact estimation of a reform program of China's tax and fee policies for low-grade oil and gas resources

With China＇s rapid economic development,it is important to formulate reasonable and feasible tax and fee policies to promote the development and utilization of low-grade oil and gas resources to guarantee China＇s energy supply security.In this paper,by analyzing major problems of China＇s current tax and fee policies for oil and gas resources,a reform program for low-grade oil and gas resources is designed from the aspects of tax/fee items and tax/fee rates.The impacts of this reform program on China and China＇s oil companies during the ＂Twelfth Five-Year Plan＂ are investigated according to the related data in 2008.The results show that the proposed tax and fee reform program will lower the tax burden of oil companies,promote the development of low-grade oil and gas resources,and increase China＇s GDP and national fiscal revenue.Besides that,it will bring positive social effects by increasing employment opportunities.

An Assessment of China's New Round of Reform of the Fiscal and Taxation Systems

Based on the Decisions of the CPC Central Committee on Some Major Issues Concerning Comprehensively Deepening Reforms and the Overall Plan on Deepening Fiscal and Tax Reforms, this paper presents a systematic assessment of the progress of China's new round of fiscal and tax reforms from November 2013 to October 2016 with the following findings. Reform of the budgetary management system has yielded initial results yet remains in the preliminary stage. While progress has been made in reforming indirect taxes, the reform of direct taxes is slow and presents a major obstacle. Despite breakthroughs, the progress of public finance reforms remains slow and impedes reforms on other fronts. Fiscal and tax reforms are uneven and should be implemented in coordination. Fiscal and tax reforms should more vigorously support overall reforms.

Strategic Perspectives on China's New Round of Tax Reform

China's current tax structure is seriously out of balance.It is dominated by indirect tax primarily paid by firms,and the share of direct tax is limited and the share of direct tax paid by households and individuals is still more limited.In order to achieve a more equitable distribution of the tax burden,the tax reform initiated by the Third Plenum of the 18 th CPC Central Committee mandated increasing the direct tax and reducing the indirect tax as key priorities to improve China's tax structure.

Effects of China's BT-to-VAT Reform on Listed Companies' Turnover Tax Burden

Using the data of China's listed companies during 2010-2014 as samples, this paper employs the PSM and DID methods to respectively investigate the effects of BTto-VAT reform on the turnover tax burden for companies in pilot regions(Shanghai and eight other provinces and municipalities) and the rest of China. Our study arrived at the following findings: Compared with pilot sectors in non-pilot regions, BT-to-VAT reform has no significant effect on the turnover tax burden of pilot companies in pilot regions; compared with non-pilot companies, BT-to-VAT reform slightly increased the turnover tax burden in the short run and somewhat reduced the turnover tax burden for pilot companies in the long run. Further differentiation of ownership nature led to the discovery that BT-toVAT reform somewhat reduced the turnover tax burden of SOEs and central SOEs, slightly increased the turnover tax burden for non-SOEs and local SOEs in pilot regions, slightly increased the turnover tax burden in the short run and somewhat reduced the turnover tax burden in the long run after nationwide pilot programs were introduced; BT-to-VAT reform has more significant effects on non-SOEs and local SOEs. In general, BT-to-VAT reform has no significant effects on the turnover tax burden of companies and after differentiating pilot regions, pilot sectors and ownership nature, we did not discover any significant effect, which is generally consistent with policy expectations.

The uniform enterprise income tax reform in China

In China, the income tax of enterprise is very different between foreign funded enterprises and other domestic enterprises. It is believed that this discrimination is harmful to the entire economy. So there is a reform in the tax system to build a uniform enterprise income tax. This is a significant reform in China＇s tax system, so every decision about this have to count the cost and the benefit carefully. The author has introduced the Computable General Equilibrium （CGE） to simulate this new tax system and value its benefit and cost. There are two different models in the paper; they are of different assumptions and for different purposes. Model I is a static CGE model and model II is a Ramsey Dynamic model. The static model is mainly used for comparative static approach to examine how the tax reform will change the endogenous variables. According to the results of the model, more goods will be produced by both of the DFEs and FIEs after the tax reform in the medium and low tax effective tax rate situations. If the nominal tax rates decrease 24.24% （from 33% to 25%）, the enterprise income tax will only reduce 19.36% and the total tax revenue will only reduce 1.911%. The dynamic model will concentrate on the costs and benefits during the transition. From the results of the model, a lower tax rate will increase the level of investment, capital stock, capital prices, wage rate and also the growth rates through transition. If the capital tax rates are changed gradually, the fluctuating of transition will be smoothed a little.

The Impacts of Tax Procedures Reform on Business Environment in Vietnam： Achievements and Further Reforms

Tax procedures are factors that strongly affect the business environment. A simple and convenient tax procedures system will contribute to a good business environment by easing of tax returns preparation, reducing tax compliance costs, and preventing corruption. This paper examines the results and impacts of previous tax procedures reform on Vietnam＇s business environment, identifies challenges of tax procedures reform now and the coming years, and discusses areas where further reforms are needed to sustain tax revenue and reduce compliance costs including： （1） wansparent and comprehensive guidance to all tax laws and other legal tax documents; （2） widening the application of risk management in tax administration; （3） continuing simplification of tax procedures; and （4） development of IT in tax administration.

CHINA'S TAX SYSTEM REFORM

Since the beginning of 1994,Chinahas conducted a series of majorreform of the systems of taxation,finance,foreign trade and investment,achieving remarkable progress,whichhas played a good role in promotingthe establishment and developmentof the socialist market economic system.Not long ago,Xiang Huaicheng,DeputyDirector-General of the State TaxationBureau,made an introduction to thestate of China’s tax system reform anddevelopment trend to Chinese andforeign reporters.

Study on the reform of resource tax and sustainable development of the underdeveloped resource-rich regions in China

The underdeveloped resource-rich region in China refers to the underdeveloped region with abundantnatural resources. The problem for these regions sustainable development cannot be negligible for its particularity innatural resources and environment. This paper mainly examines the issue about resource tax reform and the sustainabledevelopment of underdeveloped resource-rich regions. It first expatiates on regional characteristics of underdevelopedresource-rich regions, then analyzes the effect that resource tax has on the sustainable development of this type of regions,takes Yulin City as example to illuminate the negative influence on the sustainable development of those regions due to thedesign limitation of the existing resource tax, and put forward some suggestions, including to delegate tax legislativepower to lower levels, to increase resource tax rate, to expand its levied scope to give play to the potential main tax to localrevenue, to improve the design of resource tax, to enhance the its function of resource saving and environmentalprotection, to attach importance to regional interest of underdeveloped resource-rich regions and to improve of theinterest distribution system concerning the tax system and resource exploitation.

Policy Orientation of China Consumption Tax Reform in Ecological Civilization

The consumption tax reform is not only an important point of the construction of ecological civilization,but also a livelihood project related to the vital interests of consumers in China,which has aroused a heated discussion.Current popular ideas and plans of the consumption tax reform are directly moved by the developed countries.Therefore,it is bound to lack the support of the people.It is not adverse to the construction of ecological civilization and not conductive to the great rejuvenation of the Chinese dream.In the era of ecological civilization,the reform of the consumption tax needs to adopt the system thinking,taking into account multiple aspects of China’s tax system construction,tax fairness and environmental protection.Only by adjusting the taxation scope,refining the rate and perfecting tax link,etc.from overall thinking can the reform be successful.

Research on the Reform of Real Estate Taxation in the Personal Housing Ownership Link

Housing is related to the well-being of people’s livelihood,but at present,the real estate market is overheated,and the price of commercial housing remains high.The implementation of the reform of real estate tax in Shanghai and Chongqing has aroused heated discussions in the society.A timely promotion of real estate tax reform and legislation can play a role in tax regulation.This study takes the reform of real estate tax in regard to personal housing ownership link as the research theme and discusses the setting of collection scheme,the application of tax evaluation technology,as well as tax collection and management.

Research on Optimizing the Tax Business Environment - Taking Shunde Taxation Bureau's Innovation Reform as an Example

Since 2013,optimizing the business environment has become China's national strategy.In recent years,the Party and the government have continuously introduced a series of new measures such as the'"streamline administration,delegate power,strengthen regulation,and improve services55 reform to promote the continuous optimization of the business environment.As an important part of the business environment,the tax business environment is of great significance to improve the business environment and promote economic development.By analyzing the current situation of the tax business environment in China,this article discusses the existing problems in the process of optimizing tax business environment in China.Taking Shunde Taxation Bureau's innovative reform of tax business environment optimization as an example,this article introduces the practical innovation and promotion of optimizing tax business environment from four aspects:promoting convenience,digitalization,legalization,and intensive reform,in order to provide relevant experience for the optimization of tax business environment in other areas of China.

新一轮财税体制改革的战略谋划

作为进一步全面深化改革的重要组成部分,新一轮财税体制改革的谋划宜从如下四个方面展开:第一,以着力破解妨碍中国式现代化顺利推进的体制机制障碍,以为中国式现代化提供强大动力和制度保障为主攻方向。第二,以党的十八届三中全会以来围绕建立现代财政制度和现代税收制度所作出的一系列改革部署和所取得的一系列进展和成果为逻辑起点。第三,首先盯住相关行为主体关切,将着力点和着重点放在稳定相关行为主体预期、激发相关行为主体内在动力和创新活力上。第四,承继历史传统,在进一步全面深化改革中充当“先锋官”和“突击队”。