SAT: Currently at research stage for property and environmental taxes

15:10, January 29, 2010      

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Yang Suizhou, deputy director of the State Administration of Taxation's (SAT) Property Tax Division stated January 28 during an online chat with Chinese taxpayers that the administration is still at the research stage on the issue of property and environmental taxes.

When asked about measures the administration will take to curb housing price increases, Yang said the administration is a government organ which carries out the state tax policies and it has implemented real estate-related tax policies promulgated by the State Council by enhancing land appreciation tax settlements, collecting taxes before issuing property certificates and promoting the unified management of real estate taxes. However, SAT is currently at the research and preparation stage on the property tax issue.

According to Wang Jun, the business development director of Siweiruite Union (Beijing) Tax Consulting Company Limited, property tax is a kind of asset tax and the SAT's Property Tax Division can play a very important role in enacting property-related tax laws and enforcing relevant laws. Wang added that Yang's statement actually means that property tax will not be levied nationwide in the near future.

According to other reports, officials from the Beijing Local Taxation Bureau disclosed during this year's NPC and CPPCC conferences held recently, Beijing may levy a property tax at the end of next year. At the same time, some experts estimate that the tax ratio will between 0.5 percent and 1 percent. Experts added that the tax will be based on market value which means it will be a proportionate number of the discounted market value. The property tax will be levied on commercial buildings first.

As for the environmental tax on motor vehicles, Yang said that the tax is now under discussion and the tax rate, implementation time and competent department have not yet been determined.

By People's Daily Online
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