Study On Fiscal And Tax Policies To Promote The Development Of Public Private Partnership Model

With the implementation of the "one by one" strategy and the acceleration of the urbanization process,the demand for infrastructure construction has increased rapidly.However,in the new economic background,the fiscal revenue growth slowed down.Under the pressure of economic downturn and infrastructure investment demand growth,the debt scale of our local government expands rapidly.At the end of 2014,the local government debt balance reached 15.4 billion yuan.In order to control the size of local government debt,in September 2014,the State Council issued "views on strengthening the local government debt management".The file is published to regulates the local government debt financing behavior,control the size of local government debt,promote Public Private Partnership(PPP).It's significant to alleviate the pressure of local government debt and meet the needs of economic development that promoting PPP in the field of infrastructure and public service.With the characteristic of benefits spillover,high risk,high cost and so on,the development of PPP requires systematic policy support.Fiscal and tax policy are the important means for the government to support the development of PPP.Countries around the world have adopted a variety of policy measures to promote the development of PPP model especially Europe and America in which PPP is mature,Europe and America developed a series of fiscal and tax policy to support the development of PPP and met with success.At present,in the countries which have mature PPP model,PPP is widely used in the field of infrastructure and public service.Approximately 15%of the infrastructure is provided through PPP.From the experience of developed countries,PPP model is an important supplement to the traditional delivery model.PPP plays an important role in promoting China's economic restructuring and upgrading and the construction of new urbanization.However,due to late start,lack of practical experience and other reasons,there are problems such as low floor rate and low participation of private capital in the development of PPP model.The relevant policy is not yet perfect,there is no specific policy for the PPP tax policy.There are also some problems in the implementation of fiscal policy,for example,the use of financial funds isn't standardized and government is responsible for excessive liability.The perfection of fiscal and tax policy is of great significance to the sustainable development of PPP.In the domestic research on PPP mode,there are few researches on tax policy to promote the development of PPP model.Most research just made an analysis of tax policy.The study of fiscal policy focuses on the study of a particular type of fiscal policy and is more biased towards theoretical analysis.Lack of research on PPP taxation policy.This paper analyzes the necessity and feasibility of supporting the development of PPP model in fiscal and tax policys.Based on the present situation of PPP development in China and the current situation of fiscal and tax policy,the paper put forward the proposal of perfecting China's PPP fiscal and tax support policy learned from other representative countries in the international fiscal and tax policy experience.Based on the current situation and development law of PPP,this paper focuses on the fiscal and tax policy to promote the development of PPP model,and puts forward the fiscal and tax policy proposal which supports the development of PPP mode in line with China's national conditions.This paper is divided into five parts:Part ?:Introduction.Firstly,it introduces the research background and significance of this paper,and then summarizes the relevant literatures on PPP fiscal and tax policy at home and abroad.Finally,it expounds the research methods and structure of this paper,and points out the innovation and shortcomings of the paper.Part ?:Fundamental theoretical analysis of PPP.It introduces the concept connotation of PPP,and then analyzes the necessity and feasibility of fiscal and tax policy to support PPP development.Part ?:Analysis on the present situation and problems of fiscal and tax policy.First of all,it introduces the current situation and existing problems of PPP project in China,and paves the way for the later policy analysis.Followed by combing our existing PPP fiscal and tax policy,including finance subsidies,PPP funds,corporate income tax incentives and so on.Finally,based on the status of fiscal and tax policy,it analyzes the problem of fiscal and tax policy.Part ?:Typical country PPP fiscal and tax policy experience.It introduces the PPP fiscal policy adopted by the UK,Canada and tax support policy adopted by the United States,Korea.Then it summarizes their policy experience,and provides the reference for the formation of policy suggestions.Part V:Fiscal and tax support policies to promote PPP development.On the basis of the above research,the author puts forward the general idea of perfecting the PPP fiscal and tax policy in our country,then puts forward the optimization proposal,and finally puts forward the optimization suggestions of the related supporting measures.This paper adopts the combination of empirical analysis and normative analysis,combined with comparative research and theoretical research.The innovation of this paper lies in:Firstly,in the international experience of reference,this article selects four representative countries to study its fiscal and tax policy,and then puts forward the inspiration to our country combined with their own national conditions.Secondly,in the policy recommendations section,this paper takes into account the issue of fairness and efficiency,and puts forward the optimization suggestions according to the special nature of the PPP project and the stability of the policy in the development of PPP mode.Finally,this paper systematically studies the PPP fiscal and tax policy in China,and considers the synergistic effect between the policies.