REFORMS OF LEGAL REGULATION OF VALUE-ADDED TAXATION IN THE PEOPLE'S REPUBLIC OF CHINA AND THE REPUBLIC OF INDIA: TRENDS AND CHARACTERISTICS

Abstract

The research approach used in this article is based on a new concept of value-added taxation
as a complex multidimensional theoretical, fiscal and legal structure and an applied tool for
the practical transformation of political, legal and socio-economic reality. It can be
effectively used not only within the frames of the "European" model of the legal regulation of
VAT but also in alternative "Chinese" and "Indian" models.
The article explores the trends in legal regulation of value-added taxation in the largest
BRICS economies (the People's Republic of China and the Republic of India).
The author considers and evaluates changes in the legal structure of value added tax in
general and its individual elements in particular at the current stage of legal regulation of
national systems of VAT (GST) in China and India. The political, legal, social and economic
effects of the legal mechanism of VAT (GST) in China and India in 2017–2020 are also
analysed.