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China issues guideline to improve tax collection, management

Abstract : China will deepen the reform of tax collection and management to better serve market entities, according to a guideline issued by the general offices of the Communist Party of China Central Committee and the State Council.

BEIJING, March 24 (Xinhua) — China will deepen the reform of tax collection and management to better serve market entities, according to a guideline issued by the general offices of the Communist Party of China Central Committee and the State Council.

By 2022, the country aims to make significant progress in the standardization of tax law enforcement, the convenience of tax and fee services, and the accuracy of tax supervision, while basically building a powerful, smart taxation system by 2025, says the document.

Toward this end, the guideline urges efforts to promote the digitalization of tax collection and management, advance the reform of electronic invoices and strengthen big-data sharing in tax collection.

By 2025, China expects to see the deep integration of tax law enforcement, services and regulation, along with intelligent big-data applications and the universal use of electronic invoices.

The country will explore the application of blockchain technology in areas such as the collection of social insurance premiums, real-estate transactions and the registration of immovable properties, while expanding its use in information sharing related to tax and fees, it says.

Work will be conducted to improve tax law-enforcement and tax collection services, according to the document. By 2023, tax and fee payers in China will be able to enjoy automatic data collection, calculation and filing services, and confirm and submit all taxation information online.

The document also calls for accurate tax supervision and joint efforts to ensure better tax administration, by enhancing cooperation between government departments and social sectors, as well as boosting judicial protection and cross-border collaboration. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China issues guideline to improve tax collection, management

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