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The Oxford Companion to the Economics of China$
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Shenggen Fan, Ravi Kanbur, Shang-Jin Wei, and Xiaobo Zhang

Print publication date: 2014

Print ISBN-13: 9780199678204

Published to Oxford Scholarship Online: December 2014

DOI: 10.1093/acprof:oso/9780199678204.001.0001

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Chinese tax structure

Chinese tax structure

(p.178) 26 Chinese tax structure
The Oxford Companion to the Economics of China

Roger Gordon

Wei Li

Oxford University Press

This chapter discusses the changes in China’s tax structure since economic reforms were implemented in the 1980s. In 1994, excise taxes, the primary revenue source, were replaced by a value added tax (VAT) while corporate tax fell to 33 per cent. China also established a social security programme for urban residents, financed by a payroll tax. Tariff rates have fallen dramatically since China joined the World Trade Organization (WTO). Tax revenue has grown during the reform period from a low of 10 per cent of GDP, a figure typical among the poorest countries, to the present figure of 19 per cent of GDP, a figure more typical of middle-income countries.

Keywords:   tax policy, taxation, tax system, GDP, internal revenue, excise taxes, VAT, social security

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