Study on Existing Problems and Reform Paths of VAT System in China's Financial Industry
- DOI
- 10.2991/iccessh-17.2017.216How to use a DOI?
- Keywords
- value-added tax in financial industry; "the change from business tax to value-added tax"; tax reform
- Abstract
Since the Chinese government has started the tax reform of "the Change from Business Tax to Value-Added Tax" in 2012, how to levy the value-added tax in finance industry has become the focus of the industry. In order to protect the stability of tax base in financial industry after the implementation of "the Change from Business Tax to Value-Added Tax" and the smooth transition of reform, the policymaking department has maximally extend the tax policy and means of tax collection in the original business tax. However, China is one of the first countries in the world to impose VAT on the financial industry. With the complexity and innovation of financial industry itself, therefore, it is difficult to step in place to "the Change from Business Tax to Value-Added Tax". In order to maximize the neutral advantage of value-added tax, it is suggested that in the next reform, the scope of tax payment for value-added tax in financial industry be further adjusted, and the deduction chain of value-added tax be improved.
- Copyright
- © 2017, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Chunyan Zhang PY - 2017/06 DA - 2017/06 TI - Study on Existing Problems and Reform Paths of VAT System in China's Financial Industry BT - Proceedings of the 2nd International Conference on Contemporary Education, Social Sciences and Humanities (ICCESSH 2017) PB - Atlantis Press SP - 927 EP - 932 SN - 2352-5398 UR - https://doi.org/10.2991/iccessh-17.2017.216 DO - 10.2991/iccessh-17.2017.216 ID - Zhang2017/06 ER -