Economic review

Six taxes under NPC legislation this year: official

2018-03-12 16:35:00 (Beijing Time)


(ECNS) ― China plans to propose legislation for six types of tax this year, said Uzhitu, vice chairman of the National People's Congress (NPC) Financial and Economic Affairs Committee. [Special coverage]

Uzhitu made the announcement at a press conference on China's economic laws on the sidelines of the first session of the 13th National People's Congress in Beijing on Monday.

Chinese lawmakers will work on legislation for the six taxes this year, including a farmland occupation, resource, consumption and deed tax, according to Uzhitu.

He said China has created or modified six of 18 taxes, including laws for an environmental protection, tobacco leaf and ship tonnage tax.

The existing 12 taxes are still in the form of State Council or provisional regulations, so they need to be elevated into law, Uzhitu said.

Tax laws in China are formulated by the top legislature, the National People's Congress, as well as the Standing Committee, the State Council and other state organs. China is now pushing forward law-based tax reform and pressing ahead with its legislative agenda.

He added that the committee drafted or reviewed 33 laws during the five years following the 12th NPC, accounting for one-third of lawmaking initiatives in this period.

E-commerce and securities laws have passed their second reading, with the remaining 14 laws in draft stage, a work to be continued by the current NPC.

"We urge relative authorities to speed up legislation and complete all tasks as scheduled," said Uzhitu.