Before the reform and opening, China exercised a single taxation system. Because taxation had no connection with the economic activities of enterprises, this system lacked vitality. In 1981, the Chinese government began to collect income tax from Sino-foreign joint ventures and solely foreign-funded enterprises, taking the first step in taxation system reform. From 1983 to 1984, the reform consisting of the replacement of profits by taxes was carried out in domestic enterprises, and a foreign-related taxation system was set up. As a result, instead of a single tax category, a compound taxation system in which turnover and income taxes were the mainstay and other tax categories were in coordination with it was initially in place and promoted the control of finances and the economy. In 1994, the reform of the taxation system was deepened, and a complete structural adjustment of the taxation system was made by taking the market economy as the norm. In 1996, China lowered the rate of Customs duties and export drawback, and exercised import supervision.

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. Taxation . Fiscal Solvency

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