| Description |
1 online resource (24 pages) |
| Series |
IMF working paper ; no. WP/04/125 |
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IMF working paper ; WP/04/125.
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| Contents |
""Contents""; ""I. INTRODUCTION""; ""II. A SWITCH TO CONSUMPTION-BASED VAT""; ""III. EXTENSION OF THE VAT TO SERVICES""; ""IV. THE REVENUE-RETURNED SYSTEM""; ""V. CONCLUSIONS AND POLICY OPTIONS""; ""REFERENCES"" |
| Summary |
Annotation 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 |
| Notes |
"July 2004." |
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At head of title: Fiscal Affairs Department |
| Bibliography |
Includes bibliographical references |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
| Subject |
Value-added tax -- China
|
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Fiscal policy -- China
|
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Indirect taxation -- China
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Intergovernmental fiscal relations -- China
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Fiscal policy
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Indirect taxation
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Intergovernmental fiscal relations
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Value-added tax
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China
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| Form |
Electronic book
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| Author |
Singh, Raju, author.
|
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Lockwood, Benjamin (Economist), author
|
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International Monetary Fund. Fiscal Affairs Department, issuing body.
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| ISBN |
9781451854855 |
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1451854854 |
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9781451900101 |
|
1451900104 |
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