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China to Further Raise Share of Tax Revenue in GDP
Tax collection during the coming 10th Five-year Plan period (2001-2005) must be conducted according to laws and resort to advanced technology to better serve the national economy, said Jin Renqing, director of the State Administration of Taxation (SAT) at the National Taxation Conference held December 17.
A successive tax growth slightly higher than that of GDP should be guaranteed and the amount of tax revenue in GDP and that of central-level tax in whole taxation should be raised, he added.
Efforts should be made to establish a perfect taxation system in line with socialist market economy, and under a fully functioned new levy system all information will be shared. The major task currently is to regulate tax collection.
During the 9th Five-year Plan period (1996-2000), China's total tax revenue will exceed RMB$4700bn yuan, averaging a yearly increase of 130bn yuan or a yearly growth rate of over 15%.
By PD Online Staff Li Heng
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