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China’S Tax Policy Response To The Global Financial Crisis, Wei Cui
China’S Tax Policy Response To The Global Financial Crisis, Wei Cui
Wei Cui
VAT reform constituted the most important tax policy action China took during the global financial crisis in 2008-9. If China had had a more typical tax structure, this specific policy instrument (as well as certain others) would not have been available. Conversely, because of the idiosyncrasies of China’s current tax structure, some of the policy measures commonly deployed in other countries also cannot be used. In comparing China and Europe in the tax policies adopted since 2008, therefore, major differences in prior tax structures must be taken into account. There are also two other potential determinants of China’s tax policy. …
China, Wei Cui
China, Wei Cui
Wei Cui
This overview of the current state of China’s income tax treaties highlights three themes. First, the OECD and UN Model Conventions have shaped not only the treaties that China has negotiated but also the country’s domestic tax law itself. A significant number of concepts were introduced into domestic law primarily by borrowing from the treaty framework: these transplants have sometimes enriched affiliated concepts in domestic law, but in other cases, due to the limitations in the treaty framework itself, have held back the development of domestic law. Second, there are important examples where conflicts between China’s treaty obligations and its …
Fiscal Federalism In Chinese Taxation, Wei Cui
Fiscal Federalism In Chinese Taxation, Wei Cui
Wei Cui
The legal debate about the decentralization of taxing power in China has mainly centered around a directive issued by the State Council at the end of 1993, which directive, at the same time as launching the well-known and widely-discussed tax reform of 1994, announced that legislative power regarding taxation would be reserved exclusively for the central government. This directive has no constitutional basis, and its subsequent statutory incarnations are all either incomplete or ambiguous. Moreover, in the adoption of tax regulations for many types of taxes, there have been numerous deviations from this principle of centralization, and the bearing of …
China, Wei Cui
China, Wei Cui
Wei Cui
This paper provides an overview of China's idiosyncratic VAT as well as the related Business Tax (BT). BT law and practice are discussed only in connection with select conceptual issues such as the exclusion from the VAT/BT base, place of supply, etc. This decision is based on the considerations that many of the legal issues arising under the VAT cannot be properly discussed in connection with a cascading tax like the BT (as the economics of a cascading tax would undermine much of the logic of VAT rules), and that, when planning the integration of the BT into the VAT, …