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Environmental Tax Important For Fiscal Reforms - Expert

CHINA PRESS
MNI (BEIJING)

Beijing can introduce a local resource and environmental protection tax to provide a stable source of revenue should fiscal reforms happen, according to Jia Junxue, director at the China Fiscal Society and professor at Renmin University. However, policymaker reforms may not be as beneficial compared to the tax-sharing changes of 1994, due to the maturity of today's system. Local governments see revenue and expenditure weakening, indicating a problem with fiscal stability, said Yin Heng, professor at the National Institute of Development Strategy of Renmin University.

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Beijing can introduce a local resource and environmental protection tax to provide a stable source of revenue should fiscal reforms happen, according to Jia Junxue, director at the China Fiscal Society and professor at Renmin University. However, policymaker reforms may not be as beneficial compared to the tax-sharing changes of 1994, due to the maturity of today's system. Local governments see revenue and expenditure weakening, indicating a problem with fiscal stability, said Yin Heng, professor at the National Institute of Development Strategy of Renmin University.