Date
10 December 2018

Expanded property tax trials predicted, Xinhua says

China is likely to expand its property tax trials following the recent rise in home prices in many cities, Beijing-based Securities Daily reported on Sunday, according to the Xinhua news agency. Government documents concerning reform have repeatedly touched upon the subject, further evidence that this approach is locked in, Jia Kang, head of the fiscal science research institute under the Ministry of Finance, was quoted as saying. “The expansion of property tax trials is an inexorable trend. It will not only be extended to more cities, it will also be different from the current trials in Shanghai and Chongqing,” said Hu Jinghui, vice president of bacic5i5j.com, a leading real estate intermediary service company in China. Hu predicted expansion of the trials will also include existing homes, saying that “property tax on owners of multiple existing homes is very likely.”

– Contact HKEJ at [email protected]

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