The Resource The System of Revenue Sharing and Fiscal Transfers in China, Xiao Wang and Richard Herd, (electronic resource)

The System of Revenue Sharing and Fiscal Transfers in China, Xiao Wang and Richard Herd, (electronic resource)

Label
The System of Revenue Sharing and Fiscal Transfers in China
Title
The System of Revenue Sharing and Fiscal Transfers in China
Statement of responsibility
Xiao Wang and Richard Herd
Creator
Contributor
Subject
Language
eng
Summary
The main features of China's current sub-national finance arrangements date back to the 1994 tax reform. China has a multi-level government structure that shares national tax revenues through a system of tax sharing and transfers, and divides spending assignments and responsibilities. Local governments have hardly any discretionary power to modify taxation, though they have some non-tax revenue from fees, levies and penalties. They can also spend the profit from the sale of land-use rights subject to central government restrictions. As the 1994 tax reform recentralised revenues and decision-making power, vertical gaps between revenue and expenditure at sub-national levels have grown. In order to accommodate this, the central government has raised the scale of transfers. Over the past decade, China's transfer policy has addressed the horizontal imbalances and become markedly more redistributive. Nevertheless, fiscal disparities within provinces remain high and are much greater than between regions in OECD countries. The extent of fiscal equalisation within provinces varies, thus affecting the delivery of services. The government's plan to equalise service provision across the country therefore calls for fine-tuning the transfer system and improving local revenue. Some local governments are testing a residential property tax but not in a form that would substantially raise tax revenue. A significant property tax would tend to lower the revenue from the sale of land-use rights and would, in general, improve the fiscal position of those local governments that already have strong budgets. This Working Paper relates to the 2013 OECD Economic Survey of China (www.oecd.org/eco/surveys/china)
Member of
Cataloging source
FR-PaOEC
http://library.link/vocab/creatorName
Wang, Xiao
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
Herd, Richard
Series statement
OECD Economics Department Working Papers,
Series volume
no.1030
http://library.link/vocab/subjectName
  • Economics
  • Taxation
  • China (People's Republic of)
Label
The System of Revenue Sharing and Fiscal Transfers in China, Xiao Wang and Richard Herd, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
839870335
Dimensions
21 x 30 cm
Extent
1 electronic resource 37 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k4bwnwtmx0r-en
Specific material designation
remote
System control number
(OCoLC)839870335
Label
The System of Revenue Sharing and Fiscal Transfers in China, Xiao Wang and Richard Herd, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
839870335
Dimensions
21 x 30 cm
Extent
1 electronic resource 37 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k4bwnwtmx0r-en
Specific material designation
remote
System control number
(OCoLC)839870335

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