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Overall tax reduction keynote of future fiscal and taxation reform

Author  :  Mao Li     Source  :    Chinese Social Sciences Today     2015-03-17

The Center for Macroeconomic Research of Xiamen University released Forecast and Analysis of China’s Macroeconomy: 2015 Spring Report in Beijing on March 1. The report recommended that in 2015 overall tax reduction should be a major choice for fiscal and taxation reform in China. It called for adjustment of categories of taxes and reduction of indirect tax by adjusting its marginal rate. The report found that though fiscal and taxation reform in China has made great progress in past years, government revenue still accounts for too much of GDP. To change this situation, the market’s decisive role in resource distribution should be enhanced and the total amount of tax should be reduced to increase people’s income and ease the burden of enterprises.

 

The Chinese version appeared in Chinese Social Sciences Today, No. 708, March 2, 2015.

The Chinese link: http://www.cssn.cn/zx/201503/t20150303_1530319.shtml

 

Translated by Du Mei

Revised by Tom Fearon

Editor: Yu Hui

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