| Journal Call no. | HF5601.N43 |
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| Author | Ball, John. |
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| Article Title | An accountancy guide to China's new tax system / John Ball. |
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| Is Part Of | The Hong Kong accountant ; v.5, no.2, Mar/Apr 1994, p.56-57. |
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| Abstract | At the beginning of this year, China introduced changes in its system of taxation since the People's Republic was founded in 1949. These reforms go hand in hand with the gradual establishment of a unified exchange rate. Chinese officials are quick to point out that the main objective is not to put more of a financial burden on either companies or individuals. Between 1981 and 1991, Beijing's share of total collected revenue dropped from 58% to around 38%. The balance can partly be accounted for by a growing reluctance on the part of provincial authorities to up their contribution of locally collected funds to the central government. The new system seeks to reverse this trend. This article provides an overview of China's new tax system. |
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