Nov 29, 2020 05:44 PM (GMT+8) · EqualOcean
Song Xiaowu, chairman of the academic committee of the China Economic System Reform Research Association, said today that the excessive income gap is an important reason for restricting the total consumption demand of a country. There is still a lot of room for China to improve the consumption level by deepening the reform of income distribution system. Inheritance tax is a common means to adjust the wealth gap in the world. In 1996, China proposed to gradually levy inheritance and gift tax, but it has not yet been introduced. There are a large number of families with huge assets in China, and they have the conditions for levying inheritance tax and gift tax. It is suggested that inheritance tax and gift tax should be studied during the period of the 14th five year plan.

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