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China is expected to impose environmental taxes in the 12th five-year plan, experts say

Date:2016-12-21

The institute of fiscal science jia kang, director, said yesterday in Shanghai during the period of "twelfth five-year" is expected to start in our country environment tax, enterprise income tax will be adjusted accordingly.
The just-concluded central economic work conference put forward the study to promote environmental protection tax reform. "From the research point of view, China should start environmental taxes in the 12th five-year plan period." Jia kang said.
Referring to the proactive fiscal policy that will be implemented next year, Mr Jakkang sees both "increased spending" and "structural tax cuts". "Although this year's fiscal income, but also to spend a lot of. As for the next year, to agriculture, rural areas and farmers, the livelihood of the people (housing) and the new medical reform will provide strong support. In addition, the infrastructure bottlenecks, emerging industries and enterprises innovation, etc., will provide targeted support." Structural tax cuts are also big. Mr Jia believes that structural tax cuts for small and medium-sized enterprises should be further implemented next year. The expansion of VAT in Shanghai will be an important driver of structural tax cuts. The business tax changes the value-added tax and reduces the tax return, which promotes the specialization of the service industry.
 

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