Typology and Perfection of VAT Exemption Legislation
As an exception to VAT,tax exemption is often used as a policy tool to improve the regressivity of VAT.Currently,China's VAT exemption legislation is characterized by insufficient implementation of the principle of tax law,lack of comprehensive legislation,and unreasonable exemption types.Examining the international VAT legisla-tion,whether it is in the case of traditional or modern VAT system countries,the tax exemption policy has sufficient interest considerations behind it.China can further clean up the outdated tax exemption legislation,simplify the tax exemption items,and improve the contents and procedures of tax exemption regulatory documents in its VAT legis-lation.At the same time,the statutory tax exemptions and special preferential provisions should be revised,and the tax exemption assessment provisions should be added.
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