中央部署增加地方自主财力 “十五五”将有一批举措落地

Core Viewpoint - The focus of the new round of fiscal and tax reform is to increase local autonomous financial capacity, as highlighted in the recent guidelines for the 15th Five-Year Plan [1][3]. Group 1: Definition and Importance of Local Autonomous Financial Capacity - Local autonomous financial capacity refers to the portion of local financial resources that can be independently allocated by local governments, including shared tax revenues and local taxes [2][3]. - The core essence of increasing local autonomous financial capacity is "autonomy," distinguishing it from other forms of local financial resources that may have designated uses [2]. Group 2: Reasons for Increasing Local Autonomous Financial Capacity - The need to optimize the division of government revenue and address the financial difficulties faced by local governments is driving the push for increased local autonomous financial capacity [3]. - Local governments are experiencing a mismatch between revenue and expenditure, with rising rigid expenditures such as social welfare and debt servicing [3]. Group 3: Current Financial Situation - In the first ten months of the year, local general public budget revenue was approximately 10.5 trillion yuan, a year-on-year increase of 2.1%, while expenditures reached about 19.1 trillion yuan, up 1.2% [3]. - Local government fund budget revenue saw a decline of 3.3%, totaling around 3.1 trillion yuan, while expenditures increased by 7.3% to approximately 7.2 trillion yuan [3]. Group 4: Measures to Enhance Local Autonomous Financial Capacity - The central government is promoting measures to increase local tax revenues, including the shift of certain consumption tax collection responsibilities to local governments [4][5]. - The reform of consumption tax collection is expected to significantly enhance local financial capacity, particularly through the taxation of key consumption items such as tobacco, fuel, alcohol, and automobiles [5]. Group 5: Future Reforms and Strategies - The 15th Five-Year Plan outlines several initiatives to enhance local financial capacity, including the optimization of shared tax distribution and the establishment of local additional taxes [6][7]. - Experts suggest increasing the local share of corporate and personal income taxes to improve local financial resources and align local government incentives with economic performance [7][8].