Research On The Influence Of Aging Population On Individual Income Tax In China

With the rapid improvement of China's national economic level and medical level,the life expectancy of residents has increased.As the effects of family planning policies continue to appear and the concept of national fertility has gradually changed,China's population structure has also undergone tremendous changes.The process continues to accelerate.The aging of China's population has the characteristics of rapid aging and labor aging.The aging of the population structure has a profound impact on China's economic and social development.The impact is concentrated in labor supply,private savings,and household consumption.The impact of the three aspects of economics and society on the above three aspects will be reflected by affecting fiscal revenue and expenditure.Taxation,as the main source of fiscal revenue in China,is also an important tool for the government to implement macro-control and supply public goods,and provides financial support for the performance of government functions,social and economic development,and the construction of a harmonious society.Personal income tax is one of the main taxes in China's tax system,and it has the function of adjusting income distribution and raising fiscal revenue.The personal income tax is levied in China mainly on wages and salaries,operating income and other incomes of the working population.Under the premise that the tax system remains unchanged,the aging population structure will have an impact on effective labor supply,investment scale,and consumption demand.Which in turn affects the scale of the personal income tax base,affects the level of personal income tax in China,and has a profound impact on China's economic and social development by affecting the scale of fiscal income.Therefore,in the context of population aging,it is of great practical and theoretical significance to study the impact of population structure changes onpersonal income tax income.The content of this article starts from the following aspects.First,it introduces the related concepts and theoretical basis of population aging and personal income tax.It analyzes the current situation of China's population aging and the status quo and structural characteristics of personal income tax income.Based on the actual situation in China,it predicts the aging of China's population structure The trend will continue to deepen.Second,analyze the mechanism of population ageing on personal income tax income.From the perspective of the structure of personal income tax income,on the basis of determining the income tax base of personal income tax,the possible positive and negative effects of population aging factors on wage,business,and property income may be explored.In empirical analysis,from the two dimensions of static and dynamic,using 30 provincial administrative units and 2008-2017 population,tax and other data to build a fixed-effect model and a dynamic panel model based on generalized system moment estimation,the population age is derived.The conclusion that the income tax has a negative effect on the growth of personal income tax income.Third,by predicting that the peak period of China's population aging is approaching,in China's tax revenue structure,the negative effect of personal income tax income from the demographic structure will become more profound,and the proportion of personal income tax income may decrease,making it difficult to perform its functions.In this regard,this article proposes the following policy recommendations: accelerate the reform of China's personal income tax system,take into account the personal income tax policy and the population policy,effectively improve the elderly's ability to provide for the elderly,speed up the improvement of China's social security system,and speed up the improvement of China's social security system.