Information systems built around the individual housing may pave the way for the introduction of property tax

 AP

26 held a State Council executive meeting urged all localities to speed up the establishment and improvement of individual housing information system, provide the basis for the tax law. Experts believe that this or future property taxes for the pilot implementation ready.

meeting called for adjustment and improvement of related tax policies, strengthen tax collection, and no direct reference to property taxes. Shanghai E-House Real Estate Institute of General Minister Yang Hongxu that the State Council executive meeting urged all localities to speed up the establishment and improvement of individual housing information system, provide a basis for the tax law, property tax levy for the country to provide technical support. Property tax is not a new tax, the cities of Shanghai and Chongqing, has announced the first pilot, and ultimately to promote the country. The State Council formally announced the The purpose of property taxation is the use of tax leverage to strengthen the property management, improve real estate efficiency, control of fixed assets investment scale and with national housing policy adjustments, and reasonable real estate owner and operator adjustment of income. Property tax rate can be calculated in two ways, the taxpayer can choose tax year: first, in accordance with the value of the property to pay 70% -90% of the rate of 1.2%; the second is based on rental income to pay property tax rate is 12% . However, after the implementation of the tax and not all non-business use of personal property levy.

property tax levy for the time of Shanghai, the Shanghai government spokesman Chen Qiwei January 25 publicly stated that results will be the first time to the public. Housing property tax levy over an area of some of the rumors, the purchasing power to stimulate short-term focus on the release, ahead of the announcement before the implementation of real estate transactions to avoid tax, this also shows that property taxes should not be underestimated the power of the market.

26 held a State Council executive meeting also requested the transfer of housing to adjust individual business tax policy, for individuals to purchase housing resale transactions in less than 5 years, unified by the full sales tax.

Yang Hongxu that less than 5 years before the sales tax levied by the difference, is now at full charge, a lot of tax base increases, a corresponding significant increase in the tax burden; the issue of land value-added tax last year, has been defined, Shanghai and other cities have a few rules, it is estimated the city has not issued rules will also be the rule. There are two personal income tax collection methods for a total transaction 1-3% pay, and the other 20% is collected by post, had previously been imposed by the first approach. Yang Hongxu that, if strictly imposed, will ask around 20% of charge by post, it is not impossible.

1  25 on the day of Federation of Real Estate Chamber of Commerce released a report that in 2011 China still some upward pressure on prices, so the first half of the policy environment in the real estate market will be tough, but they alone Through the implementation of a policy or a tax levy at a certain tax rate and effectively solve the problem too, is unrealistic, to be the integrated use of credit policy, land policy, low-rent housing system and other measures, the formation of price control efforts.