The newly adjusted 12th the National People's Congress Standing Committee (NPCSC) Legislative Plan was announced to the public this week, and 34 legislative tasks, including the real estate tax law, appeared, which means that the much-watched real estate tax law has officially entered the legislative plan of the National People's Congress.

Real estate tax is closely related to the lives of ordinary people. How will the tax be levied after legislation? Will levying real estate tax increase our burden? Will the levy "cool down" high housing prices? With the real estate tax law put on the agenda, these questions will also have answers.

When will it be released?

The real estate tax law is formally included in the legislative plan, which means that the legislative process has taken an important step.

It is reported that the draft real estate tax law is currently being drafted by the NPC Pre-Working Committee, and the Ministry of Finance cooperates with the legislation. Kang Jia, former director of the Finance Department of the Ministry of Finance, said that after the draft was reviewed and approved by the National People's Congress, it would be publicly solicited for comments. If there are more opinions, the second and third trials will be held. According to the past legislative practice, the general draft legislation can be voted after three deliberations.

Zhang Bin, director of the Tax Research Office of the Institute of Finance and Economics of China Academy of Social Sciences, believes that in the process of legislation and reform, it is necessary to deal with the relationship between the short-term impact of real estate tax on the property market and local economic development, as well as the relationship between real estate tax and land value-added tax. In addition, the timing of levy, how to levy and whether to set up "exemption amount" are all controversial points.

Shi, a professor at the Institute of Finance and Tax Law of China University of Political Science and Law, is optimistic about the timetable for the introduction of real estate tax law. He judged that writing it into the five-year legislative plan of this session of the National People's Congress means that it may be passed before the end of 20 17. Of course, experts also said that the completion of legislation is not necessarily synchronized with the levy of real estate tax, which depends on the specific provisions of the law.

How will the real estate tax be levied?

As early as 20 14 and 10, Lou Jiwei, Minister of Finance, wrote in Qiushi magazine that it is necessary to speed up the real estate tax legislation and promote the reform in a timely manner. The general direction is, on the basis of ensuring the basic housing demand, to make overall consideration of urban and rural individual housing, industrial and commercial real estate and other factors, to reasonably set the tax burden of construction, transaction and retention, to promote the healthy development of the real estate market, and to gradually make the real estate tax a sustainable and stable source of income for local finance.

At present, real estate construction involves farmland occupation tax, deed tax, urban land use tax, construction and installation business tax and urban construction tax, education surcharge, enterprise income tax and stamp duty; In the transaction, the seller shall pay the business tax and urban construction tax surcharge, education surcharge, land value-added tax, enterprise income tax or personal income tax on the sale of real estate.

This has a problem: the current real estate taxes and fees are complex, and there is almost no tax at this stage. The previous regulation was mainly based on transaction tax, and the effect of promoting the rational allocation of housing resources was not obvious enough. In addition to the maintenance link tax, the current transaction link tax focuses on regulating the seller. In the tight market environment of supply and demand, the tax burden borne by the seller is basically passed on to the buyer, which increases the burden of buying houses with reasonable needs such as low-and middle-income people and self-occupation, and deviates from the direction of regulation.

So, how will the real estate tax be levied in the future?

In an interview with the Economic Information Daily, Shi said that the framework of the real estate tax reform path has basically taken shape, mainly combining the existing real estate tax and urban land use tax into a new real estate tax, increasing the tax burden of real estate ownership, and taking the assessed value of real estate as the tax basis. Ni Hongri, a researcher at the State Council Development Research Center, also said that it is certain that the real estate tax reform will merge the existing property tax and urban land use tax.

From the above ideas, we can see that the path of real estate tax reform is to appropriately increase the tax burden of ownership links and reduce the tax burden of construction and transaction links on the premise that the overall tax burden of real estate-related taxes remains unchanged.

Will it increase the burden on ordinary people?

People are most concerned about whether the tax burden will increase after the real estate tax is levied.

Konka believes that real estate tax will affect the tax burden structure, guide the expectations of stakeholders, and have a certain positive effect after optimizing the design. On the one hand, the burden of indirect taxes collected in the past can be merged into real estate taxes to reduce the tax burden of most people; On the other hand, as a direct tax, the tax burden of real estate tax cannot be easily passed on to others.

Wang Yongjun, dean of the Institute of Finance and Economics of the Central University of Finance and Economics, agrees with the idea of reducing the burden on most ordinary people. He believes that the introduction of real estate tax will adjust the entire real estate tax system, with the ultimate goal of reducing the tax burden of residents.

The pilot situation of levying property tax in Chongqing and Shanghai can also provide some evidence for this answer. 20111654381On October 28th, Shanghai and Chongqing began to levy property tax as pilot cities. From the implementation plan, in Shanghai, the per capita housing construction area is less than 60 square meters, which is tax-free; In Chongqing, before the implementation of property tax collection, the tax-free area of single-family commercial housing owned by taxpayers was 180 square meters, and the tax-free area of newly purchased single-family commercial housing and high-grade housing was 100 square meters. These regulations actually "exclude" most ordinary people from paying taxes.

It is understood that in view of the future real estate tax reform, basic residential housing is not taxed, and it has become a common sense in the industry to tax more than the basic standard.

Will real estate tax become a sharp weapon to reduce housing prices?

House prices have always been a topic of public concern, and many people expect that house prices will come down after the real estate tax is levied. So will levying real estate tax become a sharp weapon to reduce housing prices?

In this regard, the industry generally believes that the real estate tax can indeed curb the holding of multiple suites to a certain extent, but it is not a weapon to suppress housing prices. Experts said that from the experience of developed countries, the United States levied real estate tax mainly to increase the fiscal revenue of local governments, while Germany levied real estate tax mainly to adjust income distribution. After the real estate tax was levied in these countries, the real estate price did not drop significantly. Judging from the pilot projects in Shanghai and Chongqing, the momentum of rising house prices has not been fundamentally curbed.

Experts pointed out that the most fundamental factor in determining housing prices is the relationship between supply and demand. Therefore, there is no need to think too much about the future real estate tax for buyers who have self-occupation needs. As long as the price is right, they can choose the opportunity to buy. For those who have the demand for investment speculation, it is necessary to seriously consider the impact of levying real estate tax on the holding cost and investment income in the future.

(The above answers were published on 20 15-09-08. Please refer to the current actual purchase policy. )

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