Legislature calls for new taxes for income distribution adjustment

16:08, August 24, 2010      

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The Budgetary Affairs Committee of the National People's Congress (NPC) Standing Committee recently called for levying extra categories of taxes in order to help transform the economic structure and adjust the income distribution.

Wang Wanbin, vice secretary-general of the NPC Standing Committee, yesterday made a work report surrounding the outline of the 12th Five-Year Plan program. The Financial and Economic Committee of the NPC Standing Committee proposed the early formulation and release of the income distribution reform plan during the Sixteenth Session of the 11th NPC Standing Committee on Aug. 23.

The committee suggested that it should gradually increase the proportion of residents' income in the distribution of national income as well as the share of labor remuneration in the primary distribution of national income. It is also recommended that a distribution structure in which the middle-income population accounts for the majority of the total gradually be formed.

The special report on national income distribution compiled by the NPC Financial and Economic Committee has analyzed the in-depth reasons behind the most important issues. These issues include the declined share of residents' income and labor remuneration in the total national income, growing inequality between urban and rural areas and among different regions and various industries as well as irregular order in income distribution.

The report has proposed that the income distribution reform plan should be compiled and adopted as soon as possible, and an institutional mechanism that can promote the rational increase in residents' income should be established and improved.

The report also suggested that the proportion of residents' income in the distribution of national income and the share of labor remuneration in the primary distribution of the national income should be raised and the distribution structure in which the middle-income population accounts for the majority of the total should be gradually established.

In terms of social security work, the report has suggested that the operating budget of state-owned capital should largely be used to supplement the social security funds and the comprehensive arrangement for the nationwide basic pension insurance system should be advanced starting with properly handling the basic pension insurance system for enterprise employees in urban and rural areas.

Furthermore, the Budgetary Affairs Committee has proposed in its special report on fiscal system reform that to echo the adjustment and reform of national income distribution structure, it should reasonably determine the total scale and amount of government revenue and properly strengthen the fiscal spending accountability of the central government.

By People's Daily Online

(Editor:祁澍文)

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