Changing Tax Law in East and Southeast Asia Towards the 21st Century / / edited by Yong Zhang and Toshiro Fuke.

• Superior document: Public Law in East and Southeast Asia Series ; Volume 2
• TeilnehmendeR: Zhang, Yong, 1961-; Fuke, Toshirō,
• Place / Publishing House: The Hague, The Netherlands : : Kluwer Law International,, [1997]; ©1997
• Year of Publication: 1997
• Edition: First edition.
• Language: English
• Series: Public law in East and Southeast Asia ; Volume 2.
• Physical Description: 1 online resource (321 pages)

Table of Contents

Intro -- Title Page -- Copyright Page -- Table of Contents -- Preface -- SOME INTRODUCTORY REMARKS -- THE PERSPECTIVES FOR TAX LAW IN HONG KONG AFTER JULY 1, 1997 -- 1. Introduction -- 2. The main characteristics of current tax law in Hong Kong -- 2.1 Few kinds of taxes -- 2.2 Lower rate of direct tax and lighter burden of tax payers -- 2.3 The source territory principle -- 2.4 No total income concept -- 2.5 No withholding taxes -- 2.6 Simplicity of legislation -- 2.7 The base period for a year of tax assessment -- 2.8 The separate treatment of the married women by the tax authority -- 3. The sources of the tax law in Hong Kong after 1 July 1997 -- 3.1 Legal basis for discussion -- 3.2 The Basic Law of the Hong Kong Special Administrative Region -- 3.3 The tax laws previously in force in Hong Kong -- 3.3.1 The common law &amp -- rules of equity -- 3.3.2 Ordinances -- 3.3.3 Subordinate legislation -- 3.3.4 Customary law -- 3.4 Laws enacted by the Legislature of the Hong Kong Special Administrative Region -- 3.5 International agreements -- 3.6 Comment on the possibility of national tax laws as sources of the tax law in the HKSAR -- 4. The guidelines for Tax Reform in the HKSAR -- 4.1 Adam Smith's golden principles on taxation -- 4.2 Adequate public revenue -- 4.3 Efficiency -- 4.4 Equity -- 4.5 Effective administration -- 5. Some theoretical discussion on certain aspects of the tax law in the HKSAR -- 5.1 The future of profits tax -- 5.2 The future of salaries tax -- 5.3 The future of property tax -- 5.4 Reform on the anti-avoidance legislation -- 5.5 Tax appeals in the coming HKSAR -- 5.6 The possibility of introducing the VAT system -- 6. Conclusion -- AN OVERVIEW OF THE CHINESE 1993 TAX REFORM AND ITS PERSPECTIVES -- 1. Introduction -- 2. The Chinese tax system before the 1993 reform -- 2.1 The tax system under a planned economy.

2.2 The Fourteen-Year Tax System (1979-1993) -- 2.2.1 The reform which changed profits to tax for state-owned enterprises and the development of a turnover tax -- 2.2.2 The reform of the income tax system -- 2.2.3 The problems of the Fourteen-Year Tax System -- 3. The reform of the tax system since 1993 -- 3.1 The principles behind the new reform of the tax system -- 3.2 Turnover tax and its problems -- 3.2.1 The content of the new turnover tax -- 3.2.2 The problems of the new turnover tax -- 3.3 The reform of income tax and its problems -- 3.3.1 Internal enterprise income tax -- 3.3.2 Income tax on foreign-invested enterprises and foreign enterprises -- 3.3.3 Individual income tax -- 3.4 The problems of income tax -- 3.5.1 The division regulatory tax on investment in industrial property (the conduct and object tax) -- 3.5.2 Land value added tax -- 4. Tax sharing between central and local governments -- 4.1 Intergovernmental fiscal relations before 1994 -- 4.2 The defects of the intergovernmental fiscal system before 1993 -- 4.3 The tax sharing system -- 4.4 Some practical problems -- 4.5 Tax sharing and local autonomy -- 5. The uniqueness of the current Chinese tax system -- 5.1 Tax structure -- 5.2 Present taxation legislation -- 5.3 The drafting of the basic law on taxation -- 5.4 Tax evasion and tax refusal -- 5.5 Remedy systems -- 6. Concluding remarks -- THE REFORM OF THE TAX SYSTEM CONCERNING FOREIGN INVESTMENT IN CHINA -- 1. Introduction -- 2. The legislative principles and characteristics of the income tax laws related to foreign affairs -- 3. A comparison between income tax law concerning enterprises with foreign investment and foreign enterprises and its origins -- 3.1 Equitable taxation -- 3.1.1 Four unification have been reached for the tax laws related with foreign affairs, making tax burden balanced between foreign-related enterprises.

3.1.2 Tax basis is rationally defined -- 3.1.3 Tax credit makes tax burden internationally equitable -- 3.2 Tax preferences differ from different regions and industries -- 3.2.1 A reduced tax rate applicable in certain regions, industries and projects -- 3.2.2 Exemption and deduction of income tax in certain period of time applies in listed industries and projects -- 3.2.3 Refund of the income tax already paid on the reinvested amount -- 3.2.4 Other exemptions or reductions -- 4. Influences of the new tax laws on foreign investment -- 4.1. Effect on the forms of foreign investment -- 4.2 Effect on the scale and duration of foreign investment -- 4.3 Effect on the areas and fields of foreign investment -- 5. Indirect taxes -- 6. Shifting to resident treatment of the foreign investment policy -- 6.1 Adjustment of industries -- 6.2 Shifting to resident treatment -- 6.3 Policies concerning special economic zones will continue basically without change -- CHINESE TAX POLICY AND PROBLEMS OF FAIRNESS IN TAXATION -- 1. Introduction -- 2. Equitable distribution of tax burdens -- 3. State revenues and tax policy -- 4. Non-discrimination of taxpayers -- 5. Fair tax administration -- 6. Conclusions -- TAX LAW IN KOREA -- 1. Economic and fiscal backgrounds -- 2. Income taxation -- 2.1 Individual income tax -- 2.1.1 Basic structure -- 2.1.2 Interest and dividends -- 2.1.3 Wages and salaries -- 2.2 Corporation tax -- 2.2.1 Basic structure -- 2.2.2 Special features -- 2.2.3 Foreign taxes paid -- 2.2.4 Taxation of foreign corporations -- 2.2.5 The special corporate surtax -- 2.2.6 Tax rates -- 3. Inducement of foreign capital and technology -- 4. New legislation on international taxation -- 4.1 Transfer pricing -- 4.2 Thin capitalization -- 4.3 Tax haven -- 4.4 Extra-territorial gift -- 4.5 Mutual agreements -- 5. Estate and gift taxes -- 5.1 In general.

5.2 Estate tax -- 5.2.1 Basic structure -- 5.2.2 Exclusions -- 5.3 Gift tax -- 6. Value added tax and special consumption tax -- 6.1 In general -- 6.2 Basic structure of the value added tax -- 7. Land-related taxes and assessments -- 8. Local taxes -- 8.1 Background of local autonomy -- 8.2 Sharing of local taxes among autonomous bodies -- 9. Approaching the new millennium -- THE RESTRUCTURING PHASE OF TAX LAW IN JAPAN - AN ISSUE OF LEGITIMACY OVER A MORE EQUITABLE AND FAIRER SYSTEM TOWARDS THE TWENTY-FIRST CENTURY -- 1. Introduction -- 2. Japanese taxation system - an overview -- 2.1 General picture -- 2.2 Taxes on individual income - schedule system -- 2.3 Taxes on corporate income - based on a fictional model -- 2.4 Taxes on inheritance and gifts -- 2.5 Taxes on property -- 2.6 Taxes on consumption -- 2.7 Administration and remedies -- 2.7.1 Self-assessment and withholding systems -- 2.7.2 Collection -- 2.7.3 Remedies -- 3. Characteristics - structure and preferences -- 3.1 Structure -- 3.1.1 Common Features -- 3.1.2 Indigenousness/Uniqueness - theoretical foundation of corporate culture -- 3.2 Typical tax preferences -- 3.2.1 Structural preferences-corporate taxation -- 3.2.2 Other tax preferences - taxation of capital gains (income from disposal of land and securities), and dividend -- 4. Domestic and international aspects of the recent Japanese taxation reform towards the 21 st century -- 4.1 Public finance crisis and introduction of the consumption tax -- 4.2 Promotion of international competitiveness - in the case of corporate income tax -- 4.3 Promotion of 'self-help' culture - domestic aspects of the consumption tax -- 5. Conclusion - for further discussion -- 5.1 "Market Economy" syndrome?.

5.2 Paradigmatic transformation in the theory of government through public finance-creation of the self-help welfare society in place of the welfare state? -- 5.3 Necessary taxation reform in Japan towards 21st century -- 5.3.1 A more equitable and fairer taxation system -- 5.3.2 Concluding remarks -- TAX LAW IN INDONESIA - Helena Μ. Dorhout -- 1. Introduction -- 2. Historical overview -- 2.1 Economic background -- 2.2 Fiscal historical overview -- 3. The tax system in general -- 3.1 General law: Procedural aspects -- 3.1.1 General remarks -- 3.1.2 Settlement of tax during the year and objections -- 3.2 Other tax laws: material aspects -- 4. The Income Tax Law 1984 -- 4.1 General remarks -- 4.2 Enterprise profit tax -- 4.2.1 Resident organizations -- 4.2.2 Non-resident organization -- 4.3 Individual income tax -- 4.3.1 Resident individual -- 4.3.2 Non-resident individual -- 4.4 Tax dividends, interest, royalties, and compensation for technical and management fees -- 5. Taxes on property -- 6. Taxes on goods and services -- 6.1 Value added taxes (VAT) -- 6.2 Sales tax on luxury goods -- 6.3 Excise duties -- 7. International aspects -- 7.1 Customs duties -- 7.2 Tax treaties -- 8. Tax incentives -- 9. Analyses of the recent past of the Indonesian tax system -- 9.1 1984: The beginning of the new tax system -- 9.2 1995: Reform of the 1984-tax laws -- 10. Concluding remarks: future of the tax system -- THE TAXATION OF TAIWAN TOWARDS THE 21ST CENTURY - Chingchang Yen -- 1. Introduction -- 2. Tax structure and organization of the tax administration -- 2.1 Tax structure -- 2.2 Organization of the tax administration -- 3. Taiwan's tax policy in the course of economic development -- 3.1 Tax incentives in different stages -- 3.1.1 1949-1959 (prior to the enactment of the statute for encouragement of investment).

3.1.2 1960-1970 (first stage of encouragement of investment).