Tax increase! The mainland will promote tax legislation such as stamp duty tariffs

Mainland Minister of Finance Liu Kun wrote an article that he should actively promote tax legislation such as stamp duty and tariff, and appropriately expand provincial tax administration authority through tax legislation authorization; adhere to science and technology as a key area of fiscal spending, play the role of government investment funds to guide, drive social capital to increase investment, and promote the accelerated development of integrated circuits, new materials, a new generation of message technology and other industries.

The People’s Daily published a signed article by Liu Kun on the 8th, stating that to maintain the continuity and stability of macro policy, to maintain the necessary support for economic recovery, to balance the need for stable growth and risk prevention, to reasonably arrange the scale of deficit, debt and expenditure, not to make sharp turns, and to grasp the timing and effectiveness. In accordance with the principle of “funds follow the project”, use local government special bonds well and improve the performance of the use of bond funds.

The article points out that to promote scientific and technological innovation and industrial chain supply chain optimization and upgrading, to support the high-quality development of the manufacturing industry, in-depth implementation of the industrial base reconstruction project, accelerate the construction of independent and controllable, safe and stable industrial chain supply chain.

Liu Kun believes that we should at the same time do a good job of local government hidden debt risk resolution, maintain a high-pressure regulatory posture, and make the strict prohibition of new hidden debt a red line and a high-pressure line. Gradually improve the effective prevention and control of financial risks of the financial and fiscal supervision system; improve the state-owned financial capital authorization and management system and incentive and restraint mechanism, and promote the reform of key state-owned financial institutions.

In terms of accelerating the establishment of a modern fiscal and taxation system, it is necessary to implement the reform program for the division of financial affairs and expenditure responsibilities between the central and local governments. Improve the local tax system, accelerate the reform of the backward consumption tax collection link and steadily transfer it to localities.