Research On Inheritance Tax Legislation In China Under The Background Of Common Prosperity

Common prosperity is the essential feature of socialism and the common aspiration of all the people.Taxation plays a fundamental role in promoting common prosperity.At present,the structure of our tax system is dominated by indirect tax,the proportion of direct tax is too low,and the imperfect property tax system leads to the relatively weak function of tax regulation wealth.Inheritance tax is the key to optimize the structure of tax system and perfect the property tax system.The purpose of inheritance tax legislation in modern times has changed from financial function to social function.Estate tax plays a unique role in regulating the transfer of property between generations,but its positive and negative effects on economic operation are still lack of conclusion,so its existence and abolition should be based on the actual needs of the country.At the same time,the order of estate tax’s fairness and efficiency function exists fluidity,which should be determined according to the specific social background.Most developed countries and regions carry out inheritance tax or similar tax.In practice,the estate tax is adjusting the social wealth gap and promoting the realization of equity.The disadvantage lies in the difficulty of collection and administration and high cost,so the practical effects of estate tax in various countries(regions)are different.At present,governments try to maintain the operation of inheritance tax is biased towards the significance of social justice.It is necessary to promote the research of inheritance tax legislation under the background of common prosperity.The economic,cultural and social foundations of our country also provide realistic possibility for inheritance tax legislation.Inheritance tax legislation should aim at achieving common prosperity and carry out the principle of statutory taxation and coordinating the interests of all parties in the design of the system.At the beginning of the legislation,we choose the total estate tax with relatively simple tax system,and gradually transition to the fractional estate tax when the conditions are mature.In the context of the tax sharing system,estate tax should be listed as a shared tax between the central and local governments,and the tax should be used for special purposes,directly into the health care,education and other industries closely related to people’s livelihood,so as to ensure that the income benefits the whole people.Good estate tax law and good governance also need the tax system to work effectively.