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 Measures Issued on the Administration of the Funds Allocated from Vehicle Acquisition Tax Revenue for Subsidizing Local Funds
Chinese
Category:Legislative Updates  
Subject:Fiscal policy and taxation  
Keywords:vehicle acquisition tax revenue;  local funds
Source:Pkulaw
Publish Date:04-25-2021
 
Recently, the Ministry of Finance and the Ministry of Transport jointly issued the Notice on the Issuance of the Interim Measures for the Administration of the Funds Allocated from Vehicle Acquisition Tax Revenue for Subsidizing Local Funds.
To highlight substantial support, the Measures urge to further improve the pertinence and orientation of the allocation of funds subsidized by vehicle acquisition tax revenue. First, the Measures stress further efforts on safeguarding the expenditure responsibilities in the central financial powers of the central government, and relevant items of financial powers newly determined such as “bridges (tunnel) over boundary rivers” and “management facilities for automobile entry-exit transport at border crossings” are incorporated into the scope of fund guarantee. Second, the Measures call for more efforts to support major strategic tasks of the State. The “comprehensive transportation” should be taken as a separate direction of expenditure to support the construction of modern comprehensive multilevel transportation network. Third, the priority of support should be given to shipment infrastructure projects in line with national strategic direction, disaster reconstruction projects under national emergency response, and provincial and ministerial networking projects.
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