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- Publisher
- Emerald Publishing
- Copyright
- © Emerald Publishing Limited
- ISSN
- 0114-0582
- eISSN
- 0114-0582
- DOI
- 10.1108/par-12-2018-0117
- Publisher site
- See Article on Publisher Site
Abstract
This paper aims to examine the indirect tax reform process in China. Specifically, it examines the reform of business tax to value-added tax. Inefficiencies within the new tax system are identified and discussed. The “business tax to value-added tax” reform was seen as an essential element in promoting the economic transition and stimulating the service industries (Jin and Jin, 2013).Design/methodology/approachThe paper uses archival and current literature. In undertaking the study, the different periods of indirect tax are examined, prior to 1994, 1994-2012, the changes from 2012 culminating in the new 2017 regime. Attributes of “good” value-added tax (VAT) systems are covered as well as a comparison with New Zealand’s goods and services tax (GST).FindingsThe paper finds that to align with the international trend of indirect tax development and more efficiently accomplish the economic transition China needs to build a more neutral VAT system with fewer reduced rates and exemptions and the tax system have created tax inefficiencies and increased the compliance cost. VAT is imposing an increasingly significant impact on China’s national economy and industrial structure as well as accountants.Originality/valueThis is the first study that analyses the indirect tax reforms that are currently being implemented in China and as such has lessons for China but also for VAT/GST in general. We should not forget how special New Zealand’s GST is and the clarity of focus of those who implemented it!
Journal
Pacific Accounting Review – Emerald Publishing
Published: Nov 4, 2019
Keywords: China; Value-added tax; Tax reform; Business tax