RE Tax Comes in 2017! Don't Start Rumors, RE Tax Is Far Off!

After 5 years of a pilot real estate tax program, China is still working on a real estate tax policy. The soonest it could arrive is 2017:
So, comprehensive real estate tax levy how far it? Peking University Law School professor, Chinese taxation Law Research Association, Liu Jianwen said, "is the current term of the NPC to the end of 2017, therefore, the real estate tax law is expected before the end of 2017 will be the fastest through, slow, then may be submitted for consideration at the end of 2017, within the next term of office by the National People's Congress. "
Since the policy is still being formulated, there's still many ideas being proposed for consideration, such as a 60 sqm per capita exemption that would cover most families in China (this is the exemption under the pilot program in Shanghai). If this family were to buy a second home in Shanghai, a 100 sqm apartment, they pay 4200 yuan a year in real estate taxes.

A second article says forget the real estate tax, it isn't coming anytime soon. It says the law probably still has years to go before implementation. Then the law may not be implemented immediately after approval, and local governments may have flexibility in this regard. Finally, the tax would counteract government policy. By replacing land sales, it would incentivize local governments to restrict land sales and drive up home prices to increase tax revenue. Furthermore, the government wants people to buy more homes and rent them out, in order to reduce supply and keep prices stable. A real estate tax would reduce the incentive to fix up homes, and buy second and third investment homes. Since inventory reduction is expected to take two to three years, the real estate tax isn't coming anytime soon.

Sohu: 房地产税最快2017年开征?快看看你要交多少
iFeng: 别造谣了!房地产税开征遥遥无期

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