Study On Real Estate Tax Reform In China

The current Real Estate Tax Regulations in China were issued and carried out on September 15,1986,which has been 32 years from now.After the market-oriented reform of real estate industry since 1998,the real estate market has been developed continuously and modern financial system has been improved.Facing with the new requirements of the new era,the local tax system need to be accelerated and improved urgently to make finance play a fundamental and important role in the governance of the country.Therefore,in order to make real estate tax raise financial revenue and promote the effective allocation of real estate resources,we need to reform the existing property tax on the unscientific aspects such as the tax basic elements.In recent years,the central government has been vigorously promoting the preparation of real estate tax reformation.And it put forward to a series of suggestions,such as accelerating the legislation of real estate tax,promoting the reform timely,gradually establishing and improving the modern real estate tax system.It has aroused general concern from all walks of life and a new round of heated discussion among the domestic scholars.Starting from the development process of China’s real estate tax,we compared the tax contribution rate of maintaining part with that of the circulation part in current real estate tax system in this paper.We also pointed out the main problems existing in the current property tax system and analyzed the necessity of the tax reform.We analyzed the situation of the real estate tax reform pilot projects in Shanghai and Chongqing and the simulated tax assessment of operational real estate in Tianjin.What’s more,we found out their merits and drawbacks.Through the analysis of international mature real estate tax system,their characteristics were summarized,including the tax elements,tax collection and management system and tax value evaluation system.Combined with the actual circumstances of our country,we learned from their successful experiences and put forward some basic ideas about the designing of real estate tax elements,such as collecting property tax on the basis of progressive tax rate in the maintaining part.Set up reasonable tax exemptions,etc.,and suggest actively promoting local government participation in legislation The designing of related supporting system was also discussed and the corresponding policy suggestions were also put forward,such as actively promoting the development of the real estate registration system,establishing and improving the property tax value evaluation system,improving the tax administration law.All the analysis and discussion above in this paper could provide ideas and suggestions for speeding up the reform of real estate tax system in our country.