European Parliament Library

China :, How Can Revenue Reforms Contribute to Inclusive and Sustainable Growth?, Waikei Lam, Philippe Wingender

Abstract
Revenue reforms can contribute to more inclusive, green, and sustainable growth in China. Relative to OECD economies, fiscal policy in China is less redistributive. Options for promoting more inclusive growth include improving the progressivity of labor taxes (individual income tax and social security contributions), introducing a recurrent property tax, and finishing the transition to a comprehensive value-added tax. Higher environmental taxes, meanwhile, would promote more environment-friendly economy. These reforms could also significantly boost revenue, potentially by as much as 6½ percent of GDP. Such increases in revenue could help reduce the deficit, finance priority social and infrastructure spending, and offset cuts in other taxes. We illustrate how these revenue reforms could be part of a comprehensive fiscal package that achieves the needed consolidation in the (augmented) deficit and foster higher quality growth
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; Tables; Figures; Boxes; Appendix Tables; I. Introduction; II. Tax System in China; 1. China: Fiscal Revenue and Tax System; 2. China: Local Government Revenue and Tax Sharing System; 1. Tax Sharing Arrangement between Central and Subcentral Governments; 3. China: Individual Income Tax; 2. China: Social Insurance Contribution Rates; 4. China: Characteristics of Various Taxes; III. Revenue Reforms; A. Strengthening Progressivity of Taxation on Employment Income; B. Transition towards Value-Added Tax; Box 1. Illustrative Revenue Projections
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (56 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781475598414

Library Locations

  • EP Library Strasbourg

    7 Place Adrien Zeller, Allée du Printemps, Strasbourg, F-67070, FR
    Borrow
  • EP Library Brussels

    60 rue Wiertz, Brussels, B-1047, BE
    Borrow
  • EP Library Luxembourg

    Rue du Fort Thüngen, Luxembourg, L-1313, LU
    Borrow