Reforming the System of Personal Income Tax and Social Security Contributions (ADB-51021-001)

Countries
  • China
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 24, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of People's Republic of China
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.30 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Jul 20, 2020

Disclosed by Bank Oct 25, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed knowledge and support technical assistance (TA) will develop policy recommendations for the People's Republic of China (PRC) to reform its personal income tax (PIT) and social security contribution (SSC) systems and provide training and capacity building for implementing these reforms. The TA request is part of a broader initiative by the government to adjust the tax system to bring it in line with the economic and social development status of the PRC. The TA will explore options to reform the system of PIT and SSC drawing on the experience and good practice in selected Organization for Economic Cooperation and Development (OECD) countries. Specifically, the TA aims to reform the PIT and SSC system with to (i) increase the contribution of PIT to tax revenue, and (ii) address distortions in the PIT and SSC system, notably those that affect the progressivity of the system and give rise to labor market segmentation.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
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Ministry of Finance
Sanlihe, Xicheng District
Beijing,100820
People's Republic of China

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main

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