China may expand pilot property tax
0 Comment(s)
Print
E-mail CNTV, August 22, 2012
China's Land and Resources Daily has reported that the pilot property tax policy would be expanded to Hunan and Hubei provinces, in the central part of the country.
The newspaper cites an unnamed source from the State Administration of Taxation, and says detailed plans for rolling out the tax are in the works. But just when or how the expansion will be carried out is still unknown.
The tax will be based on a property's market value, rather than its original value. Currently, the pilot property tax is in place in Shanghai and Chongqing. There, the tax is based on a property's original value. The recent housing price rebound has fuelled calls for an extension of the property tax program, which is expected to curb the number of homes that investors buy.
Go to Forum >>0 Comment(s)