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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

Chapter:
(p.178) 26 Chinese tax structure
Source:
The Oxford Companion to the Economics of China
Author(s):

Roger Gordon

Wei Li

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199678204.003.0027

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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