Ministry of Finance: Strive to complete the revision of the Individual Income Tax Law during the year


  Every reporter Zhang Zhongyin, every edited by Chen Xu

  On March 20, the Department of Finance and Law of the Ministry of Finance announced the 2018 legislative work arrangementwarrant.

  In terms of tax law, the Ministry of Finance will strive to complete the deed tax law, resource tax law, consumption tax law, stamp tax law, urban maintenance and construction tax law, personal income tax law (revised), customs law, administrative and state-owned assets management regulations, etc. The drafting work within the ministry was promptly reported to the State Council.

  In addition, the Ministry of Finance will also apply the Land Value Added Tax Law, the Government procurement Law (Revised), the Government Debt Law, the National Treasury Regulations (Revised), the Financial Funds payment Regulations, the Government Non-Tax Revenue Management Regulations, and the State-owned Assets Assessment Management Measures (Revision). Legal and administrative regulations, as well as corporate financial rules (revision) and other departmental regulations, carry out legislative research, and strive to form certain legislative results as soon as possible. Strive to complete a tax law revision during the year

  For the "Financial Work Arrangement of the Ministry of Finance of 2018" promulgated by the Ministry of Finance and the Laws and Regulations on the 20th, the ordinary people are most concerned about the revision of the Individual Income Tax Law. This year's government work report also pointed out that it is necessary to raise the threshold for personal income tax, increase the deduction of special expenses such as child education and major medical care, and rationally reduce the burden, and encourage the people to increase their income through labor and move toward prosperity.

  During the two sessions of the National people's Congress this year, Shi Yaobin, deputy minister of the Ministry of Finance, said that the tax reform plan will be accelerated and the personal income tax reform will be initiated. After the draft is finalized, it will be submitted to the Standing Committee of the National people's Congress for deliberation in accordance with the procedures, and will be organized and implemented after deliberation.

  In addition, the relevant legislative work on other taxes will also be promoted. The implementation of the statutory principle of taxation is a clear task put forward by the Third plenary Session of the 18th CpC Central Committee. During the two sessions this year, Wu Ritu, deputy director of the 12th National people's Congress Financial and Economic Committee, said that six of theclinique fresh pressed 18 taxes currently implemented in China have been legalized, including those formulated by the 12th National people's Congress in the past five years. Environmental protection Tax Law, Tobacco Leaf Tax Law, Ship Tonnage Tax Law, Revised Enterprise Income Tax Law, etc.

  Uzhtu said that there are still 12 types of taxes that are still regulated in the form of the State Council's regulations or interim regulations, which need to be raised into law. "We will urge the relevant departments to speed up the legislative process and ensure that the statutory tasks of taxation are completed as scheduled."

  Carrying out government debt law legislation research

  In 2018, the Ministry of Finance will also conduct legislative research on various laws and administrative regulations, including the government debt law.

  An industry insider told the reporter of "Daily Economic News" that legislative research is a subject research, and it is not the initiation of legislation. The legislative research process is a process of continuous research and deepening of understanding. It is a process of further improving government debt management and improving debt transparency. It is conducive to strengthening social supervision and improving the level of national governance and modernization of the governance system.

  The person said that the mature practice was fixed through the legislative form, first of all, the concept of governing the country according to law was followed; secondly, the budget constraint was strengthened. Government debt should be fully included in the budget management, that is, through legislation to enhance budgetary constraints, and never allow illegal construction of debts outside the statutory limits.

  Zhao Quanhou, director of the Financial Research Office of the China Academy of Fiscal Science, told the reporter of the Daily Economic News that at present, in addition to the provisions of the budget law, the management of local government debt mainly relies on some rules and regulations promulgated by the Ministry of Finance. Still not enough. At present, the Ministry of Finance is studying the progress of government debt legislation this year. If the future is introduced as a law, it will be highly authoritative.

  prior to this, the parties had a high voice for the government debt law. The reporter noted that in 2016, Yao Sheng, former deputy director of the Budget Working Committee of the Standing Committee of the National people's Congress, said that the government debt law should be formulated, and the management of government debts should be clearly defined in the new budget law, such as Articles 34, 35, 48. Clauses, 67, 79, 94, etc., have some authoritative provisions as well as prohibitive provisions, both principled and penalized. The "Opinions of the State Council on Strengthening Local Government Debt Management" also made detailed regulations. The Ministry of Finance also proposed a series of measures for the management of government debts and made careful arrangements. However, these are not enough. Therefore, we should study and formulate the government debt law on this basis, and make comprehensive and systematic regulations on the government's debt, so as to fundamentally solve the debt management problemlantau island tour.

  During the two sessions this year, the relevant person in charge of the Ministry of Finance said that as of the end of 2017, the balance of government debt in China was 29.95 trillion yuan, of which the balance of central government bonds was 13.48 trillion yuan and the balance of local government debt was 16.47 trillion yuan. The debt ratio of our government, that is, the ratio of the debt balance divided by GDp is 36.2%. This ratio is down from 36.7% in 2016.

  Original address: