Study On Some Issues Of Tax Law Concerning Real Estate Investment Trust In China

As a major element of the development of China's gross domestic economic, real estate industry plays an extremely important role in nowadays life. To current Chinese real estate industry, how to get rid of the difficulty of funding as soon as possible is the primary problem. Real estate investment trusts, one of the complex financial instruments, is generally recognized as an effective instrument in the investment and gathering capital of the real estate market by international community. U.S. is one of the most mature countries on the study and practice of real estate investment trust development. Once its tax reform occurs, the legal system will promote the development of real estate investment trust. Therefore, it is extremely practical and significant to study on some issues of tax law concerning real estate investment trust in China, when we begin to develop real estate investment trust.The study on real estate investment trust in china focuses on the legal systems and models. Most of the researchers investigate from the taxation or finance viewpoint, even if from the law viewpoint, they focus on the analysis of the construction of the system of real estate investment using traditional economic law. Furthermore, there is rare investigation, which is from the tax law viewpoint. The interrelated investigations are often scattered on the monographs on trust development and the construction of the system of trust. All above do lack of systematic theoretical study.This paper starts with the general theories about real estate investment trust, to give the theoretical definitions of real estate investment trust's concept and their characteristics. Then, it compares real estate investment with real estate trust, real estate securitization, asset securitization, and securities investment fund. After doing this, it clarifies the tax barriers of the development of real estate investment trust in China. On the basis of theories about the legal system of the trust, and the nation of the trust property, a deep analysis of the legal relationship of real estate investment trust has been made. And it emphasis theories about the taxation, the statutory taxation principle, the fairness taxation principle, the regulation and supervision functions of tax law as the tax law theory of real estate investment trust, while the conduit of trust as the basic principle of taxation in real estate investment. Meanwhile, with the practice of the system of the tax law concerning on real estate investment trust in the USA, Asian countries or regions has already been researched to be used for reference. At last, on the basis of the analysis of the problems existed in the current system of real estate investment trust and absorbing and taking in the beneficial experiences of overseas, combined with national conditions, we try to put forward corresponding legal countermeasures to design the tax law system on real estate investment trust in China.The creative points of this paper are as follows: first, it has been analyzing legal issues in tax law on real estate investment trust in China; second, the author designs the special legal system of tax law on real estate investment trust in China.