The Research Of Vat Expansion In China Of Financial Industry

The core of modern economy is financial, which is greatsignificance of the overall operation of the national economy. First of allthe paper studies the characteristics of the development of China’sfinancial tax, researched the current situation of business tax, andsummed up the drawbacks for the sales tax on financial industry;secondly learn the advantages of value-added tax constructed by Westerncountries, then provide reference and guidance for our financial sectorfurther VAT reform. We can select the excellent VAT tax model to adaptto China’s national conditions. Finally, and most importantly, along withthe reform of the financial tax, we must uphold the normative role of lawand then to interlocking comply it, from the legislative to lawenforcement, in order to achieve the goal of national financial tax and thefreedom market.