From the tax reform in 1994 to the Corporate Income Tax Law in 2008 and then to the Personal income Tax Law in 2019, the tax reform in mainland China has been carried out in several stages. An improvement of the Chinese taxation system in the future constitutes an important part of the implementation of the 14th Five-Year Plan (2021‒2025) for National Economic and Social Development. It is expected that the reform of the legal system of taxation in the future will further exert the regulatory function of taxation to promote social equity.