Local Financial Law

Views Updated: Dec 15, 2025

Abbreviation

LFL

Pronunciation

/ˈloʊkəl ˌfaɪˈnænʃəl lɔ/

The study of local government financial expenditure restraint of rule by law is of great significance.
Scientific definition of the central and local taxation legislation jurisdiction, involve between central and local governments of financial allocation relationship, and involve local government legislation and law enforcement and judicial departments configuration of between series of problems, such as taxation.
As a reform aiming at financial managerial system of local government, village-finance-supervised-by-county reform should be regarded as a periodical regulation of economical and financial policy, which, nevertheless, affects the functioning law of village and the activity space of local government.
All local people's governments should lend support to people's courts in trying cases of disputes over financial claims and debts independently and impartially according to law, strengthen the cultivation of the sense and mentality of legality, and create a favorable environment for governing by law.
County local taxation bureau is an important economic law enforcement agencies and the foundation of local taxation system which charged with gathering financial resources for the local fiscal responsibility, has huge tax civil servant to achieve scientifically, democratically and law powerful.

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