Mortgage Interest Deduction Coming to China, But Only 2pc May Benefit

"This reform is a good thing, local financial pressure decreases, tax reforms have more space." Recently, a taxation system told the "China Times" reporter. In this context, the main power another tax - the personal income tax reform or will accelerate.

...Although deductible items is very rich, but the most talked about is residential mortgage loan interest deduction, in a nutshell, is the mortgage loan interest buyers who may be deducted from tax as items. Effect a tax deductible mortgage policy is not directly reflected in the mortgage, but the loan's income. This policy for the purchase of high-end residential and high wages of the population burden effect is more obvious.

"Mortgage interest deduction tax has confirmed, and may determine that the program will be across the country." Institute of Fiscal Science, said Jia Kang, director of the original.

...However, according to Jia Kang said, as the two sessions in 2015, to pay a tax of only 28 million people, accounting for less than 2% of the entire population. Thus, a tax deductible benefits are not widely available.
iFeng: 房贷利息抵扣个税已确认 将在全国推广

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