Taxation Reforms and Changes in Revenue Assignments in China /

The value-added tax (VAT) in China has the unusual feature that capital goods are included in the VAT base. In addition, most services are subject to the business tax, which is not creditable against VAT, but which accrues to local governments, and operates as a turnover tax. On grounds of economic...

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Détails bibliographiques
Auteur principal: Singh, Raju
Autres auteurs: Ahmad, Ehtisham, Lockwood, Ben
Format: Revue
Langue:English
Publié: Washington, D.C. : International Monetary Fund, 2004.
Collection:IMF Working Papers; Working Paper ; No. 2004/125
Accès en ligne:Full text available on IMF
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245 1 0 |a Taxation Reforms and Changes in Revenue Assignments in China /  |c Raju Singh, Ben Lockwood, Ehtisham Ahmad. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2004. 
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490 1 |a IMF Working Papers 
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520 3 |a The value-added tax (VAT) in China has the unusual feature that capital goods are included in the VAT base. In addition, most services are subject to the business tax, which is not creditable against VAT, but which accrues to local governments, and operates as a turnover tax. On grounds of economic efficiency, it would be desirable to eliminate these distortions so that domestic producers are not increasingly placed at a disadvantage as China dismantles tariff and nontariff barriers on competing goods. Reforming indirect taxation would however generate considerable revenue losses for local governments and, in the absence of any compensatory mechanisms, there would be significant impediments to the needed reforms. This paper focuses on the extent of revenue losses, their distribution across provinces, and possible options for compensation. 
538 |a Mode of access: Internet 
700 1 |a Ahmad, Ehtisham. 
700 1 |a Lockwood, Ben. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2004/125 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2004/125/001.2004.issue-125-en.xml  |z IMF e-Library