TY - BOOK ID - 84542231 TI - Taxation Reforms and Changes in Revenue Assignments in China AU - Singh, Raju. AU - Lockwood, Ben. AU - Ahmad, Ehtisham. PY - 2004 SN - 1462365043 1452717931 1282111698 9786613803887 1451900104 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Value-added tax KW - Fiscal policy KW - Indirect taxation KW - Indirect taxes KW - Taxation KW - Added-value tax KW - Goods and services tax KW - GST (Goods and services tax) KW - Tax on added value KW - VAT (Value-added tax) KW - Sales tax KW - Public Finance KW - Corporate Taxation KW - Taxation, Subsidies, and Revenue: General KW - State and Local Taxation, Subsidies, and Revenue KW - Intergovernmental Relations KW - Federalism KW - Secession KW - Business Taxes and Subsidies KW - Efficiency KW - Optimal Taxation KW - Public finance & taxation KW - Corporate & business tax KW - Revenue administration KW - Consumption taxes KW - Corporate income tax KW - Tax efficiency KW - Taxes KW - Revenue performance assessment KW - Spendings tax KW - Revenue KW - Corporations KW - Tax administration and procedure KW - China, People's Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542231 AB - The value-added tax (VAT) in China has the unusual feature that capital goods are included in the VAT base. In addition, most services are subject to the business tax, which is not creditable against VAT, but which accrues to local governments, and operates as a turnover tax. On grounds of economic efficiency, it would be desirable to eliminate these distortions so that domestic producers are not increasingly placed at a disadvantage as China dismantles tariff and nontariff barriers on competing goods. Reforming indirect taxation would however generate considerable revenue losses for local governments and, in the absence of any compensatory mechanisms, there would be significant impediments to the needed reforms. This paper focuses on the extent of revenue losses, their distribution across provinces, and possible options for compensation. ER -