A Study On The Improvement Of The Legal System Of Public Finance In China

Public Finance is the section of public services or public goods for community by the government. It provides public goods for the purpose of meeting the demands of public. Public Finance has many features, which are the most essential characteristics of Public Finance as stated by the law. The rules of the law for public finance also mean that the government revenue and expenditure activities must be carried out in conformity with legal provisions. The emphasis on the rule of law for Public Finance, mainly due to the nature of Public Finance is the finance of the general public, is constraining, forming and monitoring the revenues and expenditures of the government with legal procedures by the general public. The direct operation of finance by the general public is done in the forms of law, which makes Public Finance the legal finance. Conversely, if there is any absence of legal norms and constraints, the government and its officials will carry out fiscal revenue and expenditure whimsically without any responsibility, which will do harm to the interests of general public, the functions of Public Finance will not be fully utilized.Focusing on the legal construction of Public Finance, since the reform and "opening up" policies, especially since the establishment of a socialist market economic system, China issued a series of laws and regulations for Public Finance, which provides solid legal protection for the health and orderly operation of Public Finance. But we have to point out that the legal system of Public Finance has not been established yet, especially the basic law on finance and the basic law on tax have not been issued, and there are many deficiencies in the laws for finance and tax which have been enacted. Therefore, how should the nation establish a legal system of Public Finance? This must be done in the specific case of China on the basis of certain conditions, such as learning from the legislation of foreign Public Finance, in order to be an important topic worthy of study. In this paper, three aspects of the improvement of the legal system of Public Finance have been studied. The first part is the"Legal System of Public Finance and Foreign Reference to China." This section focuses on the legal system of Public Finance of the United States and Japan. The analysis of the legal system of Public Finance comparatively shown, reveals their own characteristics, such as the sound legal system of Public Finance, powers and responsibilities which have been clear in legislative forms throughout various governmental departments, the perfect supervision system, the mature social security system, and the summary of the merits which we can learn from, including how to improve the regulations for Public Finance, laws which control the government's revenue, increased financial supervision, standardize the government's expenditure behavior to enhance the level of social security further. The second part of paper is "The Situation and Problems of the Legal System of Public Finance." With the reform and "opening up," we have taken a number of reform initiatives and achieved some success in the reform of the tax distribution system, the protection of the government to fulfill the functions in Public Finance, and the monitoring of the revenue and expenditure behavior of government, but there are still many problems. Such as there is little tax revenue in the provisions of the Constitution, and the absence of basic law in many areas of Public Finance, there are also many defects the in the existing legal norms of Public Finance. The third part of the "Proposals of the Improvement in the Legal System of Public Finance" proposes to build and improve the socialist financial legal system with Chinese characteristics, which must take the Constitution as its commander in chief, take the basic law of finance as its backbone, which are the constituted of laws on finance, administration regulations on finance, local financial regulations and treasury regulations, inclusive of comprehensive financial regulations, budget regulations, tax regulations, the state-owned assets management regulations, financial regulations, accounting regulations, treasury regulations, financial supervision and regulations. Specifically, the first is to promote the pace of fiscal constitutional, and then, to improve the three kinds of the legal system of the public revenue, public expenditure and public finance supervision.