A Study Of The Preferential Tax Policy In Sports Industry In China And Its Implications For The Tax Policy Of The Hangzhou Asian Games

As China's market economy continues to develop,people demand higher levels of quality of life.With the voice of the people and the promotion of the governments,great opportunities have been created for the development of the sports industry.The sports industry is a veritable "green industry".It includes various categories such as Sport service,sport events,etc.,which are conducive to leading people's consumption concepts,stimulating sports consumption,improving the people's physical quality,and creating a healthy social atmosphere.At the same time,the evolvement of the sports industry provides a powerful impetus for China's economy growth.Today,China is in the transitional period which is from the sports undertaking to the sports industry.The complicated social enviroment offering us not only opportunities but also challenges.The economic status,social attributes,and public goods nature of the sports industry determine that the sports industry cannot develop without support of governments.With the release of the “Several Opinions of the State Council on Accelerating the Development of the Sports Industry and Promoting Sports Consumption” in 2014,China's sports industry has achieved a breakthrough in 2015 and 2016.However,since 2017,taking Letv as a representative example,it has confronted the recession,so did many other sports companies.The reason included companys' decision-making mistakes,and lack of support for sports companies' tax policies in China.As we can see,China's tax policy for the sports industry still has certain deficiencies.At the same time,China always issues the relevant temporary tax policies when holds on some large-scale sports events.This paper uses the literature data method,comparative analysis method and interview method to study the taxation status,coverage,stability and continuity of taxation policy in China's sports industry,and integreats with the theoretical framework of taxation system research to analyze the taxation of sports industry in China.The analysis of current status and problems of preferential policies,and the suggestions will promote China's sports industry to be healthy and prosperous.This study shows that although China's sports industry develops rapidly,there are still some problems such as the narrow tax coverage,poor implementation effect,excessive proportion of temporary policies,lack of durability,lack of tax incentive laws,and low legislative level.These consequences have greatly reduced the effectiveness of the government's tax incentive and has a certain impact on the development of sports industry.Therefore,the author believes that: the government for the sports industry should perfect tax legislation on the legal level,improve preferential tax legislative level,enlarge the range of tax breaks,build distinct sports industry preferential tax system and improve the continuity and stability of the tax incentives.For large sports events,tax incentives should be improved in the legislative level,the stability and sustainability of tax incentives should be maintained,and tax policies that are consistent with the development of the Asian games should be formulated to strengthen the post-match tax incentives for sports and cultural industries.