ON THE REFORM OF MAINLAND CHINA VALUE-ADDED TAX-SYSTEM

Authors
YEH CM
Citation
Cm. Yeh, ON THE REFORM OF MAINLAND CHINA VALUE-ADDED TAX-SYSTEM, Issues and studies - Institute of International Relations, 33(1), 1997, pp. 64-86
Citations number
30
Categorie Soggetti
Political Science","International Relations
Journal title
Issues and studies - Institute of International Relations → ACNP
ISSN journal
10132511
Volume
33
Issue
1
Year of publication
1997
Pages
64 - 86
Database
ISI
SICI code
1013-2511(1997)33:1<64:OTROMC>2.0.ZU;2-F
Abstract
On January 1, 1994, mainland China replaced its industrial and commerc ial consolidated tax system with a circulation tax system consisting o f value-added tax (VAT), business tax, and consumption lax. Under the revenue-sharing financial system, the central government's share of VA T levies is 75 percent and local governments' share is 25 percent. As over 60 percent of mainland China's tax revenues have come from VAT, c ontrolling central and local tax sources has become a serious challeng e.