Home » The Chinese Communist Party Pushes the Real Estate Tax Pilot, Civilian Discussing in Mainland China | Owner | NTD Chinese TV Online

The Chinese Communist Party Pushes the Real Estate Tax Pilot, Civilian Discussing in Mainland China | Owner | NTD Chinese TV Online

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Beijing time:2021-10-27 11:11

[NTD News October 27, 2021, Beijing time]The Chinese Communist Party is preparing to conduct a pilot project on real estate tax. Then, which cities might start the pilot program? After the levy starts, what kind of impact will it bring to the owners of multiple suites? Let’s take a look at what people from all walks of life in China say.

The People’s Congress of the Communist Party of China announced on October 23 that it authorized the State Council to carry out real estate tax pilot work in some cities. However, details such as the scope of the pilot and the tax rate were not clarified.

In 2011, Shanghai and Chongqing carried out the first round of real estate tax pilot projects in China. Ten years later, for the re-advance of this new tax category, the outside world is concerned about which cities will be the first wave of pilot cities? At present, Shenzhen and Hainan have the highest voices. In addition, Zhejiang, Suzhou, Hangzhou, and Jinan may also be included in the pilot program.

Ms. Li, head of the Guangdong real estate agency, believes that in August this year, the CCP collected the land transfer funds to the central government and wanted to supplement local finances through real estate taxes. It is estimated that two cities will be added on the basis of Shanghai and Chongqing.

Ms. Li, head of Guangdong real estate intermediary agency: “So now the actual increase is in Shenzhen and Hainan, because the housing prices in Shenzhen are indeed too high, so it needs this to adjust, but is there any effect? ​​Because in fact this property tax After talking about it for many years, everyone thought that the real estate tax would come out and the house price would drop a little bit, but in fact it is very difficult.”

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Ms. Li believes that it is estimated that the local government and the central government have not yet reached an agreement on how to allocate this tax, and it is said to be a pilot. Therefore, those who own multiple suites are still standing still.

Lin Shengliang, a former mainland public welfare person, said that many people buy houses to collect rent, because China’s medical and pension systems cannot provide the protection they should have, and the levying of real estate taxes will increase the pressure on the middle class.

Lin Shengliang, a former public welfare philanthropist in mainland China: “People who owned a few houses in the early days often made this money and could not find some suitable investment channels. They used part of their wealth to buy real estate, and even used these houses to actively collect rents. They are not necessarily real estate speculators. If these real estate taxes are levied, it will be a great blow to them.”

From the real estate tax pilot ten years ago to the current real estate tax pilot, some key disputes cannot be reasonably explained and resolved, including the legal basis of real estate tax collection. In countries such as the United States, non-land owners do not need to pay such taxes. In addition, the “land” tax in the real estate tax is a double taxation. The developer has already paid various fees such as land value-added tax and urban construction tax when acquiring the land, and these fees have actually been transferred to the buyer at one time during the transaction.

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NTD reporters Yi Ru, Lin Cenxin and Liu Fang

The URL of this article: https://www.ntdtv.com/gb/2021/10/27/a103253680.html

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