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Reshaping the Financial Regulatory Framework in China: Improving the Individual Income Tax on Securities Trading

Journal of Chinese Tax and Policy

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Title Reshaping the Financial Regulatory Framework in China: Improving the Individual Income Tax on Securities Trading
 
Creator JULIE, Cassidy
MAN, HUNG
ALVIN, CHENG
 
Description China has embarked upon several financial system reforms over the pastdecades that are aimed at transforming the nation from a socialist economy to amarket economy. On 17 March 2016, China released its 13th Five-Year Plan (Plan)which sets out the guiding principles for China's development for the five-yearperiod from 2016 to 2020. In the midst of the volatility of the stock market, thePlan stated that China will pursue stronger fiscal and taxation system reforms andstrengthen the securities market. Unlike other developed OECD countries, China’sfinancial market is relatively new. Yet China is in a good position since it can learnfrom decades of overseas experience. Overseas experience suggests that financialsystem reform has to be supported by strong legal and taxation laws. Yet in Chinathere are few rules governing the taxation of the sales of shares. This article looksat the taxation of capital gains (CGT) on sales of shares through a comparativeanalysis of the tax regimes in Australia and New Zealand. The analysis shows thatthere are many lessons China can learn from the CGT experiences of these twocountries.
 
Publisher Journal of Chinese Tax and Policy
 
Contributor —
 
Date 2018-05-22
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Identifier https://openjournals.library.sydney.edu.au/index.php/JCTP/article/view/12740
 
Source Journal of Chinese Tax and Policy; Vol 6, No 1 (2016): Chinese Tax and Policy 10
1839-065X
2205-2550
 
Language EN
 
Rights Copyright (c) 2018 Cassidy JULIE, HUNG MAN, CHENG ALVIN