The Application Of Tax Policy Under The New Opening-up Strategy Of China

Since the 18th National Congress of the Communist Party of China(CPC),China has entered a specific phase of "three-stage superposition" in face of the growth rate,the adjustment of the economic structure and the period of the stimulus.After a thorough analysis of current situation,the Central Committee which regards Comrade Xi Jinping as the core are clearly put forward the point of view about "new economic normal" and the layout of "four comprehensive" strategy,struggling to achieve the goals about leading people to understand,adapt and guide the new normal,and successfully build a well-off society in an all-round way during the decisive stage.The Third Plenary Session of the Eighteenth Central Committee of the Party made a decision to deepen the reform,and the Fourth Plenary Session of the Eighteenth Central Committee of the Party established the policy of ruling the country according to law.In the Fifth Plenary Session of the Eighteenth Central Committee of the Communist Party of China,the"CPC Central Committee's Proposal on the Formulation of the 13th Five-Year Plan for National Economic and Social Development "was adopted unanimously,and the development concept of "innovation,coordination,green,open,shared " was put forward as well.Which specifically pointed out in the meeting is accelerated the implementation of free trade zone strategy in the new round of opening to the outside world.The 19th National Congress of the Party proposed“Promote the formation of a new pattern of comprehensive opening up" "Developing a higher level of open economy".As a "first march" of deepen reform,the fiscal and taxation system,which is represented by the "Thoughts on deepening the reform of fiscal and taxation systems",plays the roles of modernization foundation and important pillar in national governance,and will be the highlight of the reform in the next five years.According to the concept of open development,China's fiscal and taxation policies,especially the tax policies,how to use them to serve the new opening-up strategy is the priority research of economic issues during the "13th Five-Year Plan" period.The construction of free trade zone of domestic and "the Belt and Road Initiatives"is an important measure to promote the formation of a new comprehensive open pattern.This paper is the study of the use of tax policy under the two aspects of new opening-up strategy.Based on the policy in the(Shanghai)FTZ,opening-up means the foreign tax policy require to integrate with the international standards and occupy a favorable position in the international competition.While foreign tax policy will also promote or restrict a new round of opening-up.Based on this understanding,this paper follows the methods of Hsiao et al.(2012)and Synthetic Control Methods to quantitatively examine the tax effect of the Shanghai FTZ and the role of tax innovation policy,and further discovers the significant positive impact on the tax revenue by raising the level of tax management and collection with tax revenue innovation policies in Shanghai FTZ.On an aspect of "the Belt and Road Initiatives",this paper takes into consideration the international economic situation and the new trend of international tax cooperation,then establishes spatial panel models to empirically study the impact and the action mechanism of tax factors on the OFDI from China in the area along "the Belt and Road Initiatives".Based on the analyses of sub samples,we study the heterogeneous differentiation influence as well,and conduct some inspiring conclusions based on the discussion of investment competition issue under conditions of tax competition combined with economic agglomeration.Both of the two-aspects analysis of the tax factors have great meanings,not only because it provide an empirical evidence for the existing research,but also an usefiul discussion to explore the framework of the new opening-up strategy.In reality,this research provides some scientific references and rationalization suggestions for the application of tax policy and enterprise strategy.