Mainland real estate tax legislation is on the horizon

The Ministry of Finance, the Ministry of Housing and Urban-Rural Development, the budget committee of the Standing Committee of the National People’s Congress, the State Administration of Taxation and other units held a symposium on the pilot real estate tax reform in Beijing on the 11th, saying that they will listen to the opinions of some local governments, experts and scholars on the pilot real estate tax reform, although only 90 words did not reveal more content, but has provoked heated debate in the market, and was interpreted that can decide the real estate The four units of the real estate tax legislation and levy are gathered together, signaling extraordinary significance.

Industry insiders point out that before the real estate tax legislation, it is expected to take the lead in some cities to implement real estate tax pilot. Some real estate agents also analyze that if the real estate tax reform is to be launched, it should be piloted in some hot cities, and the possibility of a full-scale rollout in the short term is unlikely.

Ni Hongri, a researcher at the Development Research Center of the State Council of the mainland, said that the work of real estate tax is definitely to be done, from the expression of the meeting, real estate tax legislation began to be active, but the central decision-making level will also be considered according to the overall situation to promote the legislative process of real estate tax.

According to Xu Xiaole, chief market analyst of Shell Research Institute, quoted by Securities Daily, the current legal basis and technical means of real estate tax is not much of a problem, but the key is how to find the right time to launch, and must ensure that the policy will not cause too much impact on market expectations.

In addition to real estate tax, in order to cool down the recent explosion of “small property rights houses”, Shenzhen has also recently offered a heavy hand. Following the “Notice on the Prohibition of Agency Sales of “Small Property Rights Houses” issued by the URA of Longhua District in Shenzhen, the Cai Lian News Agency reported that “Shenzhen has now made this requirement citywide”, requiring real estate agencies and practitioners not to act as agents for the sale of “small property rights houses”. “They are required not to provide brokerage services for the transaction of “small property rights houses”.

The so-called “small property right houses” generally refer to houses built on collective land in rural areas without relevant documents and land premiums, and the property right certificates are not issued by the official housing authorities on the mainland, but by township governments or villages, also known as “township property right houses”. “The property right certificate is not issued by the mainland official housing department, but by the township government or village.

This wave of regulation of small property rights houses in Shenzhen can be said to be triggered by the CCTV report in late April, which pointed out the chaos of trading speculation. A number of intermediary stores that were previously keen on the small property rights house business have appeared to be seized and some village committees have stopped the transfer. In addition to the funds blocked at the halfway point, some of the recently sold small property rights houses also had to be “withdrawn” because the village committee stopped the transfer.