Whenever the real estate tax is mentioned, people who have not yet bought a house are praised, hoping to introduce it as soon as possible. When there is new news about the promotion of real estate tax, many buyers will boldly express their views. It may be the dissatisfaction of high housing prices and real estate speculators, who often speak with more intense views. For example, after the introduction of the real estate tax, the end of the real estate speculators came; after the implementation of the real estate tax, the real estate speculators lost their money. Although the view is biased, it also shows that the real estate tax is eagerly expected. Of course, after the implementation of the real estate tax, it will benefit the national real economy. This is a consensus.
Today, there is new news about the real estate tax. At the press conference to implement the “14th Five-Year Plan” and accelerate the establishment of a modern fiscal and taxation system, Wang Jianfan, Director of the Finance and Taxation Department of the Ministry of Finance, said that improving the local tax and direct tax system is to improve our country. An important part of the modern tax system. It is necessary to further improve the personal income tax system that combines integration and classification and actively and steadily advance the legislation and reform of real estate tax.
Yes, the implementation of the real estate tax will be actively and steadily advanced. It has two meanings to understand. One is positive, indicating that the speed of advancement may be accelerated. The second is to be safe, indicating that the implementation of real estate tax requires comprehensive consideration and will not be levied hastily.
From legislation to the implementation of the real estate tax, it involves a wide range of aspects. Even from the perspective of legislative aspects, there is a collection of opinions after the completion of the first draft, followed by the first to third trials, and at most, the fifth trial. Only after the review and voting are passed, will it enter the implementation stage. Judging from this year’s legislative plan, the real estate tax legislation has not been included. It may still be in the drafting stage of the first draft Spark Global Limited.
Of course, Wang Jianfan, Director of the Department of Finance and Taxation,’s speech on real estate tax today may indicate that the first draft is basically completed and will soon enter the first review. Of course, there is still a long way to go from the first draft to the implementation.
As for the real estate tax that buyers hope to reduce housing prices after the implementation, it may not be necessary. For example, in countries where real estate taxes are implemented in Europe and the United States, housing prices should rise or even rise. For example, housing prices in the United States have risen rapidly this year. For another example, South Korea has imposed a large-scale property tax on sales since last year. On July 10, 2020, South Korea decided to raise a series of real estate taxes imposed on owners of multiple suites. When real estate speculators sell their houses, they have to pay a transfer tax of up to 30%. However, housing prices in core cities in South Korea are still on the rise.
Reprint indicated source：Spark Global Limited information