A Study On The Impact Of China's Economic Growth Shift On Tax Revenue Growth Under The New Normal

Since the reform and opening up,China's economy has maintained rapid growth.But due to the impact of the international financial crisis and the adjustment of its economic structure,the trend of Chinese economic growth shift is obvious that the economic growth rate continues to decline in recent years.At the same time,the development of economy has different characteristics with the past,which is gradually entering the new normal.Tax revenue is derived from the economy,and Chinese economic growth shift has significant impact on the tax revenue growth.Public finance is the foundation and important pillar of national governance,and China's fiscal revenue comes mainly from taxation.Taxation is not only the foundation of the national operation,but also the effective means for the state to regulate the economy.Therefore,it is of great significance to study the impact of China's economic growth shift on tax revenue growth.The paper focuses on the combination of empirical analysis and normative analysis,and studies the impact of China's economic growth shift on the tax revenue growth.The paper uses the method of empirical analysis and normative analysis to study the impact of China's economic growth shift on the tax revenue growth,and puts forward some policy recommendations to promote the coordinated growth of economy and tax revenue.Firstly,the paper analyzes the current situation of the impact of economic growth shift on tax revenue growth by using empirical analysis and builds a ARMA model which takes GDP as exogenous variable to predict the impact of economic growth shift on tax revenue growth in the next period of time.The empirical results show that the shift of economic growth has a significant impact on tax growth.The decline in economic growth leads to a decline in tax revenue growth,and tax revenue growth rate drops more.Thus it can be seen that the stable growth of tax revenue needs the healthy economic development as the safeguard.By using the method of normative analysis,the paper comes to the conclusion to promote coordinated economic and tax growth through analyzing the problems existing in our country's economicdevelopment and tax structure and learning from international experience.