22 September 2018

CASS does not see quick nationwide property tax, report says

China is unlikely to take the property tax nationwide anytime soon, following deliberations by top leaders at the recent 18th CPC Central Committee meeting, news website cited Yang Zhiyong, an economist at the Institute of Finance and Economics under the Chinese Academy of Social Sciences (CASS), as saying. Yang said a number of issues, such as the nature of the property tax, need to be resolved before it can be implemented. He added that as the new tax will bring income to local governments and is based on the valuation of real estate, which will fluctuate over time, the scheme must be evaluated carefully before implementation.

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