Chinas largest tax value added tax law is expected to be drafted within this year, and last years public consultation is expected

category:Finance
 Chinas largest tax value added tax law is expected to be drafted within this year, and last years public consultation is expected


From November to December 2019, the Ministry of Finance successively solicited opinions from the public on value-added tax law, consumption tax law, etc. Liu Jianwen, a professor at Peking University Law School, said in an interview with surging news (www.thepaper. CN) that the value-added tax legislation, as Chinas largest tax category, is an important step towards the implementation of the legal principles of Taxation in China.

On December 13, 1993, the State Council issued the Provisional Regulations of the peoples Republic of China on value added tax. Since January 1, 1994, value added tax has been levied on the units and individuals that sell goods, process, repair and repair services and import goods in China.

The Ministry of Finance wrote in the notes on the value added tax law of the peoples Republic of China (Draft for comments), at present, all the reform measures related to value added tax have been launched, and the legislative conditions are mature. In order to consolidate the reform results in the form of laws, we have integrated the regulations and No. 36 document, adjusted and improved the relevant contents appropriately, and formed the draft for comments, in accordance with the principle of maintaining the overall unchanged framework of the current tax system and the overall unchanged level of the current tax burden.

In terms of consumption tax, since 1994, it has undergone several major institutional adjustments, including the reform of consumption tax system in 2006, the reform of refined oil tax in 2008, and the new round of consumption tax reform since 2014.

The Ministry of Finance wrote in the notes on the consumption tax law of the peoples Republic of China (Draft for comments) that a new round of consumption tax reform has been launched since 2014, and a number of reform measures have been introduced. These reform measures have played a positive role in the transformation of modes, restructuring, promoting development, and increasing fiscal revenue. At present, the relevant reform requirements of consumption tax have been implemented and the legislative conditions are mature.

In the statement, the Ministry of Finance pointed out that after gradual reform and improvement, the framework of consumption tax system is basically mature, the elements of tax system are basically reasonable, and the operation is basically stable. Therefore, the consumption tax law of the peoples Republic of China (Draft for comments) has maintained the current framework of tax system and the overall level of tax burden. Combined with the reform results, the table of tax items and rates is supplemented and improved. According to the Ministry of finance, 2020 will be the end of the year of building a moderately prosperous society in all respects and the 13th five year plan. The Ministry of finance will take promoting the modernization of national governance system and governance capacity as the goal, adhere to the work of financial legislation to actively adapt to the needs of economic and social development and financial reform, adhere to scientific legislation, democratic legislation, legislation according to law, and further promote the administration according to law and financing according to law, so as to provide strong legal guarantee for accelerating the establishment of modern financial system. Source: surging news editor: Zhong Qiming, nf5619

In the statement, the Ministry of Finance pointed out that after gradual reform and improvement, the framework of consumption tax system is basically mature, the elements of tax system are basically reasonable, and the operation is basically stable. Therefore, the consumption tax law of the peoples Republic of China (Draft for comments) has maintained the current framework of tax system and the overall level of tax burden. Combined with the reform results, the table of tax items and rates is supplemented and improved.

According to the Ministry of finance, 2020 will be the end of the year of building a moderately prosperous society in all respects and the 13th five year plan. The Ministry of finance will take promoting the modernization of national governance system and governance capacity as the goal, adhere to the work of financial legislation to actively adapt to the needs of economic and social development and financial reform, adhere to scientific legislation, democratic legislation, legislation according to law, and further promote the administration according to law and financing according to law, so as to provide strong legal guarantee for accelerating the establishment of modern financial system.