Deepening the Fiscal and Taxation System Reform and Strengthening Endogenous Driving Force of Economic Development
Following the proposal for a new round of fiscal and taxation system reform at the Central Economic Work Conference in 2023,the third plenary session of the 20th Central Committee of the Communist Party of China explicitly emphasized the imperative to pursue coordinated reforms in the fiscal and taxation system,and enhance the consistency of macro policy orientation.This study identifies issues with China's current fiscal and taxation system,including unsustainable local government debt financing methods and excessive reliance on central transfer payments caused by unclear central-local fiscal relations,and the pressing need for tax system reform in the era of digital economy.We should accurately identify the fanctional position of public finance,implement market-oriented reforms and stimulate the vitality of market entities,deliver efficient government public services,straighten out central-local fiscal relations,and optimize tax structures to foster a sound interaction between finance and economy,so as to lead the steady and far-reaching development of Chinese modernization.
Fiscal and taxation system reformGovernment and marketIntergovernmental fiscal relations
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