Proceedings of the 2nd International Conference on Contemporary Education, Social Sciences and Humanities (ICCESSH 2017)

Study on Existing Problems and Reform Paths of VAT System in China's Financial Industry

Authors
Chunyan Zhang
Corresponding Author
Chunyan Zhang
Available Online June 2017.
DOI
10.2991/iccessh-17.2017.216How to use a DOI?
Keywords
value-added tax in financial industry; "the change from business tax to value-added tax"; tax reform
Abstract

Since the Chinese government has started the tax reform of "the Change from Business Tax to Value-Added Tax" in 2012, how to levy the value-added tax in finance industry has become the focus of the industry. In order to protect the stability of tax base in financial industry after the implementation of "the Change from Business Tax to Value-Added Tax" and the smooth transition of reform, the policymaking department has maximally extend the tax policy and means of tax collection in the original business tax. However, China is one of the first countries in the world to impose VAT on the financial industry. With the complexity and innovation of financial industry itself, therefore, it is difficult to step in place to "the Change from Business Tax to Value-Added Tax". In order to maximize the neutral advantage of value-added tax, it is suggested that in the next reform, the scope of tax payment for value-added tax in financial industry be further adjusted, and the deduction chain of value-added tax be improved.

Copyright
© 2017, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 2nd International Conference on Contemporary Education, Social Sciences and Humanities (ICCESSH 2017)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
June 2017
ISBN
10.2991/iccessh-17.2017.216
ISSN
2352-5398
DOI
10.2991/iccessh-17.2017.216How to use a DOI?
Copyright
© 2017, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Chunyan Zhang
PY  - 2017/06
DA  - 2017/06
TI  - Study on Existing Problems and Reform Paths of VAT System in China's Financial Industry
BT  - Proceedings of the 2nd International Conference on Contemporary Education, Social Sciences and Humanities (ICCESSH 2017)
PB  - Atlantis Press
SP  - 927
EP  - 932
SN  - 2352-5398
UR  - https://doi.org/10.2991/iccessh-17.2017.216
DO  - 10.2991/iccessh-17.2017.216
ID  - Zhang2017/06
ER  -