A Study on the Tax Policies of China's Supply-side Structural Reforms

The supply-side structural reforms are the only course for the new normal of economy. The changes of the growth rates which are determined by the basic elements require close attention on the supply-side adjustment and control. The objects of the supply-side structural reforms are to enhance the quality and quantity of the economic growth and promote the sustained economic growth. Tax policies are the core of the reform and the important policy means as well as a key link for modernization. The implementation of the five supply-side tax reform policies, including reduction of tax, abolition of indirect taxes, reduction of income tax, levy of consumption tax and reasonable application of taxes, is very important for the adjustment and guidance of the structural tax policies, the reduction of the overall tax burden and the further promotion of the supply-side structural reforms and the new normal of economy.