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Some Luxury Items Will Be Included In The Scope Of Consumption Tax.

2011/2/24 16:22:00 52

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Value Added Tax On Luxury Goods Consumption Tax

On the morning of 23 th, the general office of the State Council submitted to the eleven session of the Standing Committee of the National People's Congress nineteenth written meeting, "written by the general office of the State Council on the implementation of the letter of the Standing Committee of the National People's Congress on the final accounts of the Central Committee of the people's Republic of China" in 2009. According to the relevant requirements of the 2011 standing law work plan of the Standing Committee of the National People's Congress, the state office is now working on the draft of the People's Republic of China value-added tax law.

Steadily increasing the value added tax legislation

Value added tax

We should further expand the reform and further improve the value-added tax system.

It will also push ahead.

resource tax

Reform.

The main content is to change the resource tax of some items from the quantity assessment to ad valorem levy, appropriately raise the tax burden level of some resource items, appropriately increase the scope of resources tax collection, unify the resource tax and fee system of Chinese and foreign oil and gas enterprises, and adjust the tax reduction and exemption items.

The next step will continue to co-ordinate the study and improvement of the consumption tax system, appropriately expand the scope of the consumption tax levy, and partially overconsume resources, seriously pollute the environment, and upgrade some of the products.

Luxury goods

The scope of consumption tax shall be included.

The relevant departments of the State Council will further standardize the budgeting method of the social security fund and improve the budget information management system of the social security fund.

We should gradually compile the time in advance, and strive to synchronize the social security fund budget preparation time with the public budget before the end of the three year trial compilation. We will expand the scope of the social security fund budget compilation, and gradually incorporate other social security funds established according to national laws and regulations into the social security fund budget management.

In addition, the Ministry of finance is currently studying the establishment of a long-term mechanism to regulate local government debt management and prevent financial and financial risks, and gradually establish a local government debt management and risk early warning mechanism, bringing local government debt revenue and expenditure into budget management.