Twelfth Five-Year Plan: Raising the Resource Tax Burden and Expanding the Collection of Environmental Taxes

During the "Twelfth Five-Year Plan" period, China will improve the tax policy for rationally guiding housing demand. At the same time, it will focus on research and promote real estate tax reform and improve the resource and environmental tax and fee system, and improve the tax reform of property behavior. This is what the Securities Times reporter received yesterday, the "Twelfth Five-Year Plan" Tax Development Plan Outline. According to the "Outline", China will establish a sound and scientific taxation system and policy system during the "Twelfth Five-Year Plan" period, reform and improve the taxation system for goods and services, income tax, and property behavior, and establish a taxation system that is conducive to scientific development and accelerate the transformation of economic development. The mechanism will give full play to the role of tax revenue raising, regulating the economy, and regulating distribution.   Deepen the reform of the taxation system for goods and services. Based on the general expropriation and special adjustment, we will focus on the expansion of VAT and improve the consumption tax, and optimize the tax system for goods and services. Expand the scope of VAT collection and reduce the tax on business tax. Reasonably adjust the scope of consumption tax collection, tax rate structure and taxation links, and include most of the resources that consume resources, seriously polluting the environment, and high-end luxury goods into the scope of consumption tax collection. Optimize the import and export tax system. Deepen the reform of the income tax system. Based on the promotion of social equity and the increase of the proportion of income tax revenue, we will gradually establish and improve the individual income tax system combining comprehensive and classified, and improve the income tax system. Improve the corporate income tax system and optimize the policy system and management system. We will steadily promote the reform of the personal income tax system, rationally adjust the tax base and tax rate structure, increase the deduction standard for wages and salaries, reduce the tax burden for low- and middle-income earners, and increase the tax adjustment for high-income earners. Deepen the reform of the property behavior tax system. Based on the rational allocation of tax rights and the improvement of the local tax system, we will focus on research and development of real estate tax reform and improvement of the resource and environment tax and fee system, and improve the property behavior tax system. We will continue to promote the fee-based tax reform, comprehensively reform the resource tax, and appropriately raise the resource tax burden in accordance with the price, tax, fee, and rent linkage mechanism, improve the mode of collection, and change the important resource products from the quantitative quota to the ad valorem rate. Selecting tax items with heavy control tasks and mature technical standards to levy environmental protection taxes and gradually expanding the scope of collection. Actively promote the reform of cultivated land occupation tax. Coordinate the implementation of urban maintenance and construction tax, education surcharge, stamp duty and deed tax reform. Gradually improve the local tax system and give the provincial government appropriate tax administration authority. Adjust and improve tax policies. We will improve tax policies that encourage innovation, guide investment and consumption, promote the development of strategic new industries and high-tech industries, support the industrialization of scientific research results, and promote industrial structure upgrading and service industry development. Full implementation of corporate R&D expenses plus deductions and other tax incentives to promote technological progress. Increase the support for taxation policies for the development of circular economy.  

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