Circular of the State Council on Issuing the Plan for Propelling the Reform on Adjusting the Division of Tax Revenues Between the Central Government and Local Governments After the Implementation of Larger-scale Tax and Fee Cuts
Circular of the State Council on Issuing the Plan for Propelling the Reform on Adjusting the Division of Tax Revenues Between the Central Government and Local Governments After the Implementation of Larger-scale Tax and Fee Cuts
Circular of the State Council on Issuing the Plan for Propelling the Reform on Adjusting the Division of Tax Revenues Between the Central Government and Local Governments After the Implementation of Larger-scale Tax and Fee Cuts
Guo Fa [2019] No. 21
September 26, 2019
People's governments of all provinces, autonomous regions and municipalities directly under the Central Government, all ministries and commissions under the State Council and all institutions directly affiliated to the State Council,
The Plan for Propelling the Reform on Adjusting the Division of Tax Revenues Between the Central Government and Local Governments After the Implementation of Larger-scale Tax and Fee Cuts is hereby issued to you for your conscientious implementation.
Plan for Propelling the Reform on Adjusting the Division of Tax Revenues Between the Central Government and Local Governments After the Implementation of Larger-scale Tax and Fee Cuts
With a view to further rationalizing the central and local fiscal distribution relationship, supporting local governments to implement the policies for tax and fee cuts and alleviate fiscal operation difficulties, the Plan for the reform on adjusting the division of tax revenues between the Central Government and local governments after the implementation of larger-scale tax and fee cuts is hereby formulated as follows in accordance with the decision-making and deployment of the Central Committee of the Communist Party of China ("CPC") and the State Council.
I. Basic Principles
1. Maintain the overall stability of the existing financial resource pattern. We shall, mobilize the enthusiasm of both the Central Government and local governments, and stabilize the overall pattern for division of tax revenues between the Central Government and local governments that has been formed since the tax-sharing system reform, and consolidate the results of the reform on division of tax revenues such as "fifty-fifty sharing" of value-added tax ("VAT").
2. Establish a more balanced and reasonable sharing mechanism. We shall, in line with the requirements for deepening the VAT reform and establishing a VAT credit rebate system, and on the basis of maintaining the VAT credit rebate sharing proportion between the Central Government and local governments unchanged, rationally adjust and optimize the sharing methods for local governments.
3.
......
Guo Fa [2019] No. 21
September 26, 2019
People's governments of all provinces, autonomous regions and municipalities directly under the Central Government, all ministries and commissions under the State Council and all institutions directly affiliated to the State Council,
The Plan for Propelling the Reform on Adjusting the Division of Tax Revenues Between the Central Government and Local Governments After the Implementation of Larger-scale Tax and Fee Cuts is hereby issued to you for your conscientious implementation.
Plan for Propelling the Reform on Adjusting the Division of Tax Revenues Between the Central Government and Local Governments After the Implementation of Larger-scale Tax and Fee Cuts
With a view to further rationalizing the central and local fiscal distribution relationship, supporting local governments to implement the policies for tax and fee cuts and alleviate fiscal operation difficulties, the Plan for the reform on adjusting the division of tax revenues between the Central Government and local governments after the implementation of larger-scale tax and fee cuts is hereby formulated as follows in accordance with the decision-making and deployment of the Central Committee of the Communist Party of China ("CPC") and the State Council.
I. Basic Principles
1. Maintain the overall stability of the existing financial resource pattern. We shall, mobilize the enthusiasm of both the Central Government and local governments, and stabilize the overall pattern for division of tax revenues between the Central Government and local governments that has been formed since the tax-sharing system reform, and consolidate the results of the reform on division of tax revenues such as "fifty-fifty sharing" of value-added tax ("VAT").
2. Establish a more balanced and reasonable sharing mechanism. We shall, in line with the requirements for deepening the VAT reform and establishing a VAT credit rebate system, and on the basis of maintaining the VAT credit rebate sharing proportion between the Central Government and local governments unchanged, rationally adjust and optimize the sharing methods for local governments.
3.
......