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Golden Tax Project Operational in Four Cities and Five Provinces
The State Council has decided that as of January 1, the authentication, auditing and checking information management systems, as an important component of China's Golden Tax Project, were the first to be launched in four cities and five provinces (Beijing, Shanghai, Tianjin and Chongqing municipalities; and Liaoning, Shandong, Jiangsu, Zhejiang and Guangdong provinces) on January 1, 2001.
These systems will also be put into operation in 22 other provinces beginning from July 1,2001. By then, the auditing and checking systems will cover tax authorities at all levels nationwide through the Internet, and a nationwide value-added tax (VAT) monitoring system will be established across the country.
It is reported that the Golden Tax Project, established in line with the idea of "science and technology plus management" according to the instructions of State Council leaders and in light of China's present economic situation, is a VAT monitoring management system with Chinese characteristics. At present, value-added tax income has made up 50 percent of China's annual total, becoming the first category of tax, worthy of its name.
Reports say that in recent years, with the understanding and support of various social circles and through the common efforts of tax offices at various levels, the construction work of the project has proceeded smoothly. The pattern of overall advancement has currently taken shape. China will continue to step up the construction of the project. By the end of 2002, China will have introduced the anti-counterfeit and invoice-related tax control system to ordinary value-added tax payers.
Sources say that the completion of the project on time and up to required quality will play a significant role in preventing, checking and prosecuting tax evasion and fraud activities carried out by making use of the special value-added-tax invoices, and reducing losses of tax money; it is also of importance to supervising and controlling the taxpayers' activities of production and operation and change of their tax funds; to supervising and standardizing the conduct of law-executors, and to furthering the construction of a clean and honest tax authority.
By PD Online Staff Li Yan
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