Main contents of the seminar
Lou Jiwei, Minister of Finance of China, and Angel Gurria, Secretary-General of the Organization for Economic Cooperation and Development made opening speeches.
IMF Managing Director Lagarde spoke as the moderator of the first seminar, and China Finance Minister Lou Jiwei, Singaporean Deputy Prime Minister and Finance Minister tharman shanmugaratnam, Italian Finance Minister Padoan and South African Finance Minister Pravin Gordon participated in the discussion.
The second part of the topic was delivered by four finance ministers, namely, Angel Gurria, Secretary-General of OECD, U.S. Treasury Secretary Lu and Japanese Finance Minister.
Minister of Finance of China: Lou Jiwei
It can't be said that innovation is tax reduction. The next step is to push forward the reform of income tax and real estate tax without hesitation.
How to encourage innovation? On the one hand, we are now promoting professional division of labor through "reform of the camp"; The second is to increase the pre-tax deduction of R&D investment and encourage innovation. Unfortunately, due to the difficulty of information collection and the obstacles of interest adjustment, the reform of income tax and real estate tax has not been promoted, but we will do it without hesitation in the next step, which is also our task.
However, we should be wary of another tendency, that is, innovation is tax reduction, and our first priority is fairness. Nowadays, digital finance, many shadow banks, * * * enjoy services * * * enjoy the economy, and many of them do not collect taxes. My opinion is to collect taxes. For example, cross-border e-commerce, we have just started to collect taxes, and the digital economy has to collect taxes, but the premise is supervision. Taxation is possible only after supervision.
Singaporean Deputy Prime Minister and Minister of Finance: Tallman Chandaratnam.
Income tax can try negative income tax.
How to encourage innovation? As far as taxation is concerned, there are two general principles: income tax should be reduced, and some areas can even implement negative income tax, followed by high property tax.
In this regard, not only the holding link should be taxed, but also the trading link should be taxed, which will of course lead to market distortions, but not all distortions are harmful, so it is better to distort them positively and crack down on speculation in the real estate sector through taxation in the trading link. In this process, the first suite of low-income families should be excluded.
The third aspect is to pay attention to small and medium-sized enterprises, which are small in scale and lack innovation ability, and establish a tax system that can help them innovate.
Italian Finance Minister Padoan
Supporting the innovation and development of small and medium-sized enterprises is not a tonic, but a series of principles
Small and medium-sized enterprises lack innovation ability. In my opinion, how to improve this situation is not a good medicine, but requires a series of measures. Small and medium-sized enterprises are small in scale and lack innovation ability. We should encourage them to unite with universities and large enterprises through the design of policies and systems, and constantly expand their innovative ability.
Turkish Deputy Prime Minister Simsek
For emerging market countries, tax policies should be simple and stable.
Turkey also belongs to the second echelon country, but hopes to enter the first echelon through our performance. Yes, the uncertainty of tax will have a negative impact on trade, and people will take the uncertainty of tax supervision as a very important decision-making factor.
Therefore, the tax policy should be simple and stable. Before I became deputy prime minister, I served as finance minister for seven years. I feel that in emerging markets, tax policies and supervision suddenly change, and laws are often a relatively broad framework, which will increase uncertainty. For the countries in the second echelon, this is the same problem as ours.
Japanese Deputy Prime Minister Taro Aso
Double taxation and mutual non-taxation should be avoided.
We should promote the development of the real economy through tax reform. I want to emphasize that deepening tax stability is one of the cornerstones, and at the same time, full cooperation between countries is another cornerstone.
The purpose of cooperation between countries is to avoid double taxation and mutual non-taxation, which is very important because it will curb the economy. In addition, the stability of execution promotes certainty. However, although some countries have promised to implement it, they encounter great difficulties at home, so the certainty of taxation will encounter great challenges in implementation.
US Treasury Secretary Jacob Lew
Countries should have the same tax standards.
If countries can have the same tax standards, the problem will be easier to solve.
At the same time, I especially think that information exchange and inclusiveness are very important. This requires the OECD to play an important role. Countries identify uncertainties and then work together in a targeted manner.
German Finance Minister Wolfgang Sch? uble
Tax uncertainty caused by technological change
With the rapid change of technology, the traditional workflow is replaced by a new value creation model, which also brings uncertainty to taxation. According to this new development, we should have enough flexibility. At present, we should give full consideration to taxes involving traditional economy, digital economy and new formats.
Christine lagarde, Managing Director of the International Monetary Fund
Policies should promote sustained growth.
Policies should promote sustained growth, not just short-term improvement, so that the world can get rid of the mediocre situation, and R&D investment in many countries is very low. We suggest that increasing R&D investment can improve efficiency.
Angel Guria, Secretary-General of OECD
Rational use of tax policy tools to create fair development opportunities.
From the perspective of global development, we must ensure the stable development of all economies. Eliminating tax discrimination and investment barriers and promoting economic globalization have formed a kind of knowledge, but it poses a severe challenge to the capacity building of tax collection and management in various countries. This requires different countries to carry out tax reform, rationally use tax policy tools and create fair development opportunities.
At the same time, it also shows the importance of emphasizing information exchange. Fortunately, in terms of tax transparency, 96 countries have realized the automatic exchange of information, and the audit and supervision of various taxes are relatively transparent. Everyone also actively initiated international coordination of various taxes, which is conducive to improving global tax governance and promoting the establishment of a fair, just, inclusive and orderly new international tax order.