The Decision of the CPC Central Committee on Several Important Issues of Comprehensively Deepening Reform and the Overall Plan for Deepening the Reform of Fiscal and Tax System set a goal to establish a modern tax system with "fairness, unity and powerful regulation". Indirect tax reform is relatively smooth, while direct tax reform is moving forward slowly.As one of the basic relations to be dealt with at the level of national governance, the adjustment of the relationship between the central and local governments must be consistent with the overall goal of the national modernization governance. As an important part of the modern financial system, the reform of the financial system must point to the new pattern of the relationship between the central and local governments under the background of the national modernization governance. In view of the prominent problems and major contradictions that the relationship between the central and local governments are unclear and unreasonable in the current financial system, the Decision and the Overall Plan aim at giving full play to the initiative of the central and local governments, and outlines the blueprint of the reform of fiscal system.
