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| Author: | Meng, Lingbao Gong, Wenyong |
| Title: | An analysis of impact of the system of sharing tax on local finance (original in Chinese) |
| Journal: | Economic Problems (c)
1995 : 1, p.41-43 |
| Index terms: | TAX POLICY TAX REFORM CHINA |
| Language: | chi |
| Abstract: | There is no doubt that the overall implementation of the system whereby tax revenues are shared by central and local authorities would exert far-reaching influence on local economy. The system together with unified tax system and reform of enterprise system has produced actions and promoted economic development comprehensively. But the system of sharing tax has also brought unfavorable effect on local financial economy. First, the local income has been reduced as a result of the fact that the central financial departments not only take possession of 70% of the value-added tax collected generally but also take away the consumption tax which is transformed from product tax into. Second, heavy burdens have been added to some enterprises due to the rise in taxes to be paid by textile, coal, metallurgical, machine-building and building materials industries. |
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