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 backgroun...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.展开更多
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 do...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.展开更多
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 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.展开更多
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...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.展开更多
Value-added Tax(VAT),a turnover tax levied on the value appreciated in commodities production,circulation and sale,has been widely practiced by economies worldwide for its neutrality.From the international perspective...Value-added Tax(VAT),a turnover tax levied on the value appreciated in commodities production,circulation and sale,has been widely practiced by economies worldwide for its neutrality.From the international perspective,European Union VAT and New Zealand VAT stand out as characteristic models of VAT development and reform history.With changing economic development models and the growth of e-commerce businesses,VAT systems have been upgraded to meet taxation challenges brought about by the digital economy.Recently,VAT policies and measures have been introduced particularly to combat the COVID-19 impact.In China,the VAT system has been reformed constantly over the past 40 years and has been converging with international practice.China now needs to address emerging VAT issues through legislation,tax incentives,and tax-rate grades so as to meet challenges in VAT collection and management and to suit the“new normal”of economic development.展开更多
文摘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.
文摘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.
基金supported by the National Social Science Fund for Post-Funding Projects of China(No.22FGLB056)Program for Innovation Research in Central University of Finance and Economics,and National Statistical Science Foundation of China(No.2023LY078).
文摘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.
基金supported by the National Natural Science Foundation of China(Nos.71803159,71703130)Ministry of Education Project of Humanities and Social Sciences(No.19YJC790061)the Fundamental Research Funds for the Central Universities(No.JBK2007086).
文摘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.
文摘Value-added Tax(VAT),a turnover tax levied on the value appreciated in commodities production,circulation and sale,has been widely practiced by economies worldwide for its neutrality.From the international perspective,European Union VAT and New Zealand VAT stand out as characteristic models of VAT development and reform history.With changing economic development models and the growth of e-commerce businesses,VAT systems have been upgraded to meet taxation challenges brought about by the digital economy.Recently,VAT policies and measures have been introduced particularly to combat the COVID-19 impact.In China,the VAT system has been reformed constantly over the past 40 years and has been converging with international practice.China now needs to address emerging VAT issues through legislation,tax incentives,and tax-rate grades so as to meet challenges in VAT collection and management and to suit the“new normal”of economic development.
