Taxation i China.doc

Taxation in China From Wikipedia, the free encyclopedia ??(Redirected from?Tax system in China) For taxation in?Imperial China, see?Taxation in premodern China. For taxation in the Republic of China (Taiwan), see?Taxation in the Republic of China. Taxation An aspect of?fiscal policy Policies[show] Economics[show] Collection[show] Noncompliance[show] Distribution[show] Types[show] International[show] Trade[show] Religious[show] By country[show] v t e Taxes?provide the most important revenue source for the?Government of the Peoples Republic of China. As the most important source of fiscal revenue, tax is a key component of macro-economic policy, and greatly affects Chinas economic and social development. With the changes made since the 1994 tax reform, China has preliminarily set up a streamlined tax system geared to the?socialist market economy. Chinas tax revenue came to 6.31 trillion yuan (924 billion U.S. dollars) in 2009, up 9.1 percent on 2008.[1] The government agency in charge of tax policy is the?Ministry of Finance. For tax collection,?State Administration of Taxation. As part of US$586 billion economic stimulus package of November 2008, the government plans to reform the VAT which could cut corporation taxes by 120 billion yuan.?[1] Contents ??[hide]? 1?Types of taxes 2?Tax legislation 2.1?Current Tax Legislation Table 3?Foreign investment taxation 3.1?Urban and Township Land Use Tax 3.2?City Maintenance and Construction Tax 3.3?Fixed Assets Investment Orientation Regulation Tax 3.4?Land Appreciation Tax 3.5?Urban Real Estate Tax 3.6?Vehicle and Vessel Usage License Plate Tax 3.7?Individual income tax 4?Tax governance 5?Revenue statistics 5.1?Revenue breakdown in 1997 6?See also 7?References 8?Further reading 8.1?History 9?External links Types of taxes[edit] Under the current tax system in China, there are 26 types of taxes, which, according to their nature and function, can be divided into the following 8 categories: Turnover taxes. This inc