*Newly-built joint ventures engaged in new and high technological enterprises shall enjoy a 15 percent reduction of income tax for two years, or a 24 percent reduction for two years and a 50 percent reduction in the f...*Newly-built joint ventures engaged in new and high technological enterprises shall enjoy a 15 percent reduction of income tax for two years, or a 24 percent reduction for two years and a 50 percent reduction in the following three years. A choice between the two may be decided by the said enterprises. **Service industry, those enterprises with a foreign capital of more than US$5 million shall be exempt from the tax展开更多
Starting from the premise that Italian real estate taxation is inefficient and unnecessarily complex, the paper suggests two tax reforms. The first proposal puts forward progressive property taxation on the family bas...Starting from the premise that Italian real estate taxation is inefficient and unnecessarily complex, the paper suggests two tax reforms. The first proposal puts forward progressive property taxation on the family basis; the second one suggests inferring a property income within the general calculation of the personal income tax. The common features of the two tax schemes are： the use of property market values instead of cadastral rents, a general reduction of the real estate local tax, a strong cutback of the stamp duties and registration fees applied to real estate transfers. A microsimulation model is employed to evaluate the impacts of the proposed taxation schemes. They both show, providing for a constant tax revenue, stronger redistributive effects.展开更多
This study examines the evolution of fiscal relations between the central state and local governments in China since the founding of the People's Republic The emphasis is placed on the changing arrangement for t...This study examines the evolution of fiscal relations between the central state and local governments in China since the founding of the People's Republic The emphasis is placed on the changing arrangement for the central state's collection of taxes and allocation of capital among provinces The central local relation has experienced constant reorganization since 1949, but the tax division scheme introduced in the early 1990s represents the most significant change Prior to the 1990s, the central local fiscal relation was shaped by a highly centralized administrative and economic system without rational and scientific design for revenue collection and expenditure The financial responsibility system established after the reforms contributed to regional economic development during the first decade of reforms, but it was a temporary and transitional arrangement that does not meet the requirement of rational resources arrangement according to free market forces The implementation of the tax division scheme has stopped the decline of the ratio of fiscal revenue to gross domestic product, raised the percentage of central revenue in total national income, and strengthened the central function for macro economic control The mechanism for tax refund under the tax division scheme required further improvements Several proposals are made in this study: 1) tax classification should be adjusted according to administration; 2) a scientific and standardized system for regional transfer payment should be developed; and 3) the power for tax legislation should be delineated according to the rational division of administration between the central and local government展开更多
An important feature of local self-government which differs from other public authorities should be the independence of its organs from the government system of administration. The empowerment of local communities, wh...An important feature of local self-government which differs from other public authorities should be the independence of its organs from the government system of administration. The empowerment of local communities, which takes place in all democratic states, has been achieved by giving the guarantee of autonomy to local self-government, including financial autonomy. These are fundamental assumptions of local self-government functioning. The subject of this paper is to present self-government, in the field of shaping the basic sources of public tasks. issues relating to the financial autonomy of loca of its financial supply in cash, enabling the performance展开更多
文摘*Newly-built joint ventures engaged in new and high technological enterprises shall enjoy a 15 percent reduction of income tax for two years, or a 24 percent reduction for two years and a 50 percent reduction in the following three years. A choice between the two may be decided by the said enterprises. **Service industry, those enterprises with a foreign capital of more than US$5 million shall be exempt from the tax
文摘Starting from the premise that Italian real estate taxation is inefficient and unnecessarily complex, the paper suggests two tax reforms. The first proposal puts forward progressive property taxation on the family basis; the second one suggests inferring a property income within the general calculation of the personal income tax. The common features of the two tax schemes are： the use of property market values instead of cadastral rents, a general reduction of the real estate local tax, a strong cutback of the stamp duties and registration fees applied to real estate transfers. A microsimulation model is employed to evaluate the impacts of the proposed taxation schemes. They both show, providing for a constant tax revenue, stronger redistributive effects.
文摘This study examines the evolution of fiscal relations between the central state and local governments in China since the founding of the People's Republic The emphasis is placed on the changing arrangement for the central state's collection of taxes and allocation of capital among provinces The central local relation has experienced constant reorganization since 1949, but the tax division scheme introduced in the early 1990s represents the most significant change Prior to the 1990s, the central local fiscal relation was shaped by a highly centralized administrative and economic system without rational and scientific design for revenue collection and expenditure The financial responsibility system established after the reforms contributed to regional economic development during the first decade of reforms, but it was a temporary and transitional arrangement that does not meet the requirement of rational resources arrangement according to free market forces The implementation of the tax division scheme has stopped the decline of the ratio of fiscal revenue to gross domestic product, raised the percentage of central revenue in total national income, and strengthened the central function for macro economic control The mechanism for tax refund under the tax division scheme required further improvements Several proposals are made in this study: 1) tax classification should be adjusted according to administration; 2) a scientific and standardized system for regional transfer payment should be developed; and 3) the power for tax legislation should be delineated according to the rational division of administration between the central and local government
文摘An important feature of local self-government which differs from other public authorities should be the independence of its organs from the government system of administration. The empowerment of local communities, which takes place in all democratic states, has been achieved by giving the guarantee of autonomy to local self-government, including financial autonomy. These are fundamental assumptions of local self-government functioning. The subject of this paper is to present self-government, in the field of shaping the basic sources of public tasks. issues relating to the financial autonomy of loca of its financial supply in cash, enabling the performance
