Core Viewpoint - The fiscal and tax system reform during the "15th Five-Year Plan" period is essential for addressing current fiscal constraints and advancing the modernization of national governance, aiming to inject strong momentum into Chinese-style modernization through budget reform, tax optimization, central-local relationship restructuring, and comprehensive debt management [4]. Group 1: Achievements of the "14th Five-Year Plan" - The "14th Five-Year Plan" emphasized establishing a modern fiscal system, focusing on accelerating the establishment of a modern fiscal system and improving the modern tax system, with progress made in budget reform, tax reform, and central-local relationship adjustments, despite facing challenges such as sluggish fiscal revenue growth and local debt pressure [5]. Group 2: Key Directions for the "15th Five-Year Plan" - The "15th Five-Year Plan" will focus on four main areas for fiscal and tax reform: performance-based budgeting, modernization of the tax system, central-local collaboration, and comprehensive debt management, addressing new challenges such as fiscal revenue growth and local government land finance transformation [6][7]. Group 3: Performance-Based Budgeting - Emphasizing the need for increased public budget expenditure and improved expenditure effectiveness, the next phase of budget reform will focus on enhancing budget performance management to optimize the allocation and use of fiscal resources [7]. Group 4: Modernization of the Tax System - The direction of tax reform during the "15th Five-Year Plan" includes aligning tax reforms with industrial structure adjustments, improving the direct tax system, and enhancing the local tax system, particularly through advancing consumption tax reform [7]. Group 5: Central-Local Collaboration - To address the imbalance between central and local fiscal powers, increasing local fiscal autonomy is crucial, which can be achieved through tax reforms and enhancing consumption tax and property tax reforms to alleviate pressure on central finances [7]. Group 6: Comprehensive Debt Management - Following the large-scale issuance of local debt since 2015, there is a need for a unified debt supervision framework to manage the risks associated with hidden debts and to accelerate the transformation of financing platforms, which is essential for establishing a differentiated pricing system for market investors [7].

2025 年 9 月 15 日 总量研究 深化财税体制改革：赋能"十五五"高质量发展的制度基石 ——《财政洞悉》系列第九篇 要点 核心观点："十五五"时期的财税体制改革，既是破解当前财政紧约束的必由之 路，更是推进国家治理现代化的长远之策。通过预算制度革新释放资源潜力、税 制优化调节分配格局、央地关系重构激发治理活力、债务全口径管理扩大财政效 能，这一系列改革将为中国式现代化注入强劲动能。 "十四五"成果：财税体制改革的现实基础。2021 年 3 月 13 日公布的《中华 人民共和国国民经济和社会发展第十四个五年规划和 2035 年远景目标纲要》提 出要建立现代财税体制，主要有两个方面的内涵：加快建立现代财政制度、完善 现代税收制度。经过四年半左右的时间，回顾来看，"十四五"期间财税体制改 革在预算制度改革、税收制度改革、理顺央地关系等方面均取得进展，但仍面临 财政收入增长乏力、支出刚性约束、地方债务压力等深层矛盾。 "十五五"期间，财税体制改革的核心方向。把握"十五五"规划中财税体制改 革可能方向的两个思路：其一，党的二十届三中全会通过《中共中央关于进一步 全面深化改革 推进中国式现代化的决定》，提出"深化 ...