Against the backdrop of economic downward pressure not reducing and tax reduction and fee reduction increasing in 2019，our country’s fiscal revenue growth slowed，fiscal expenditure increased steadily，and the deficit rate further increased. The reform of the fiscal and taxation system is an important part of our country’s comprehensive deepening reform. The national ministries and commissions have issued a number of policy documents around the three major tasks of fiscal and taxation reform，which have a profound impact on the development of our country’s social economy and urban development and investment corporations. Based on the introduction of the changes in the fiscal and taxation system in 2019，this article analyzes the future changes in the fiscal and taxation system reform and its impact on the urban development and investment corporations.