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An Empirical Study of the Optimal Proportion of Turnover Tax and Income Tax Rates in China

Wang Liang

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Abstract

The turnover tax and income tax have a negative correlation with the economic growth in China, a positive correlation with GDP and inhabitant saving. The cubic regression model constructed with GDP fits the changing track of turnover tax and income tax. This paper pointes out the optimal proportion of turnover tax and income tax rate in the GDP with maximum economic growth, and as a result the tax reform should increase the income tax rate.

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What this paper is about

The turnover tax and income tax have a negative correlation with the economic growth in China, a positive correlation with GDP and inhabitant saving. The cubic regression model constructed with GDP fits the changing track of turnover tax and income tax. This paper pointes out the optimal proportion of turnover tax and income tax rate in the GDP with maximum economic growth, and as a result the tax reform should increase the income tax rate.

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Available abstract

The turnover tax and income tax have a negative correlation with the economic growth in China, a positive correlation with GDP and inhabitant saving. The cubic regression model constructed with GDP fits the changing track of turnover tax and income tax. This paper pointes out the optimal proportion of turnover tax and income tax rate in the GDP with maximum economic growth, and as a result the tax reform should increase the income tax rate.

Key concepts: Economics, Gross income, State income tax, Tax rate, Value-added tax, Tax reform, Double taxation, Income tax

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