Jia Kang, director of the Ministry of Finance’s Institute for Fiscal Science, has called for stepped up efforts on property tax legislation, the China Securities Journal reported Friday. The proposed law should cover all taxes tied to land development, property construction, property transactions and property ownership, Jia was quoted as saying. Some existing taxes and fees may need to removed, combined or cut if a property tax is put in place, he said. The tax should also target owners of high-end property, and not be levied across the board, Jia said.
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