Study Of China's Real Estate Tax System

Taxation as an important means of macroeconomic control in the process of economic operation plays an important regulatory role. Since the founding of new China, China has made continuous development and evolution of the tax system relating to real estate, which makes great contributions to the development of China's real estate market, and the increase of the local revenues. However, the current tax system relating to real estate is not very reasonable, no matter from taxation objects, or from taxation links, or from control means, which cannot adapt to the current socio-economic development requirements, cannot play an effective role in regulating the real estate market, and real estate-related tax system also has comprehensive system defects, so a reform integration is needed to simplify and combine the current related tax types, and levy new, unified real estate tax.Generally, the policy goals of real estate tax levy in China can be summed up as follows:Standardizing the development of real estate market, curbing the rapid growth of house prices, regulating the social wealth income gap, strengthening the local financial system, improving the local tax system, increasing the supply capacity of local public services, and reducing the risks to the financial system brought by real estate industry risks, etc. And all these policy goals are feasible in theory, but it still needs the verification of the practice of the real estate tax levy.From the experience of studying and analyzing the real estate tax in foreign developed countries and regions, real estate tax has become a main revenue source of the local finance. "Broader tax base, less tax category, lower tax rate" has become the basis principle of real estate tax reform and development in all countries since the 1980s. This tax structure is conductive to the tax payer's approval, and is able to supply sufficient and stable tax source for the local finance. Meanwhile, most of the real estate tax systems in each country are in the structure of "paying more attention to circulation and depreciating possession", which will increase the possession cost of real estate, thus helping to reduce the speculation on the real estate, to improve the mobility of the real estate market, to increase the effective supply of houses, and to promote the sound development of the real estate market. Finally, a perfect supporting service system for real estate tax is the key node to increase the tax collection and management efficiency, including the advanced evaluation system of real estate and a completed and perfect registration system of property right of real estate. These practice experience of foreign real estate tax has very good reference value for the frame design of real estate tax in our country.The introduction of the real estate tax will influence the value of the real estate, the local revenues and public service supply level, so making the reasonable real estate tax system is an important premise to standardize the real estate market behavior, ensure the stable development of the real estate industry, regulate the social wealth distribution and improve the local tax system and the local financial system. As for our country, the design frame for real estate tax needs to combine the international experience and our country's specific national conditions, with the guidance of tax general, advantage, fair and minimum resistance principles, make reasonable design in tax basis, evaluation departments, evaluation procedures and methods, etc. and do well in the construction of the supporting implementation conditions, thus enabling the levy of real estate tax to play the function of regulating real estate market and improving the local financial system, and increasing the local public service supply.In short, the paper focused on the research background of real estate tax and theoretical and reality meanings and the system design frame to research. During the process of research, it made thorough analysis on the theory basis, system selection and experience reference, and gave key analysis on its important meaning to the real estate market development and local finance, using tax and financial theory, by combination of qualitative analysis and quantitive analysis, international experience and China's national conditions, with the aid of the comprehensive research methods of data analysis, measurement means, graphic tables and case analysis.The creative points of the paper mainly are as follows:First, studied the reasonability and feasibility of the real estate tax levy in possession link through tax theory, meanwhile, analyzed the influence on the real estate industry and the local finance by levying on the real estate tax through model and case analysis. The paper believed that, from the point of view of managing and standardizing the development of real estate market, collection of the real estate tax helps to improve the real estate tax system, curb the rapid growth of house prices, promote the sound development of the real estate industry; helps to improve the awkward situation of the local finance, improve the local financial system, encourage the local to put more investments in the public service, improve the people's livelihood and build a harmonious society.Second, summed up and designed a set of frame systems of collection and management of the real estate tax in line with our specific national conditions, through review and analysis of changes in the real estate related tax system as well as foreign experience of real estate tax collection, and gave advice on building relevant supporting facilities, which provide a practical guidance for the introduction of the real estate tax in China, and a useful reference on the policy making for the relevant departments.The introduction of real estate tax is not only a necessary demand of China's market economy development, but also an internal need for our economic and social development. Research on the real estate tax has a very important meaning to standardize China's increasingly developed real estate market, promote our economic and social development, as well as regulate the industrial structure and improve the local financial system. Hope some theoretical analysis and specific practical designs of the paper can play a certain reference role in setting up and levying on the real estate tax in China.