明年财税改革重点明晰 剑指“税收洼地”与地方财力缺口

Core Viewpoint - The reform of the fiscal and tax system, focusing on standardizing tax incentives and building a local tax system, is expected to be fully implemented in the first year of the 14th Five-Year Plan, addressing the dual demands of promoting high-quality development and constructing a unified national market [1]. Group 1: Tax Incentives and Local Tax System - The central economic work conference has set a goal to standardize tax incentives and fiscal subsidy policies by 2026, while also addressing local fiscal difficulties [1][2]. - Experts believe that the series of reforms will form a "break and establish" combination, where standardizing tax incentives can eliminate "tax revenue gaps" and foster a fair market environment, while constructing a local tax system can fill the financial gap left by the standardization of incentives [1][2]. - The National Taxation Administration has initiated special governance on illegal tax-related issues in investment promotion, particularly targeting local governments' practices of creating "policy gaps" and attracting "shell companies" [3]. Group 2: Challenges and Recommendations - The complexity of clarifying numerous tax incentives and fiscal subsidy policies is acknowledged, with experts suggesting a priority on cleaning up regional policy gaps and disguised tax refunds by local governments [4]. - Recommendations include creating a public list of existing incentives, establishing red lines for new incentives, and implementing a dynamic evaluation and exit mechanism [4][5]. - The reform is expected to lead to structural changes in fiscal revenue, with regions relying on "tax revenue gaps" facing income reductions and increased fiscal pressure [4][5]. Group 3: Long-term Implications - In the long term, the reform will reshape the fiscal revenue structure and the behavior of local governments, shifting from reliance on unstable regional incentives to sustainable revenue through a legalized tax system [5][6]. - Local governments are expected to focus on optimizing the business and consumption environment, enhancing industrial ecosystems, and improving public service quality [5][6]. - The 14th Five-Year Plan will also aim to standardize tax policies related to operating income, capital income, and property income, maintaining a reasonable macro tax burden level [6][7].