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Fiscal policy
1.1.1. Taxation policy
- China’s taxes on goods and services contribute to 48.3 percent of its
total tax income
- China also considers expanding the coverage of VAT and reducing
business tax items to simplify the taxation system and avoid double
tax collection
- China’s personal income tax only accounts for 4.7 percent of its
entire tax revenue,
- The Chinese government encourages its advanced technology
development by reducing the relative enterprise income taxes
1.1.2. Government revenue and expenditure
Gov revenue Gov expenditure
Source: www.starmass.com/china
REFERENCE
The Case for Trade Liberalisation in Developing Countries” Journal of Economics
Perspectives Winter 1992 pgs 69-85 (available through LeedsMet Intranet)
Ocampo J.A. and Taylor L (1998) “Trade liberalisation in developing countries: Modest
benefits but problems with productivity growth, macroeconomic prices and income
distribution “Economic Journal September 1998 (available through LeedsMet Intranet)