Stabler VAT returns to local finance
The State Council, China’s Cabinet, announced a decision to revise the method of calculating value-added tax (VAT) returns to local regions. The central government has been returning part of the VAT intake since 1994 when the reform divided tax collection between the central and local governments. Starting this year, the central government will return a fixed amount of VAT to local governments formulated on the base number for 2015, which will not be changed even if the VAT intake changes. tions to them; third, they should improve their ability to mobilize innovation resources and coordinate economic and social developments. Finally, the regions selected as exemplary zones should share their experiences in technological innovation and sustainable development, to help other regions and provide a China plan on sustainable development to the whole world. vision issued a temporary regulation on supervising campus security for primary, secondary schools and kindergartens nationwide, which made clear the key aspects of their supervision, namely organizing work, rule-building, violence prevention and tackling accidents.