Research On The Real Estate Tax Reformation In China

As a pillar industry of national economy, the healthy and orderly development of real estate is one of the important support for the sustainable and stable development of the national economy. Meanwhile,the rationality of real estate tax,which is closely related to the development of real estate,and its structure will have an important impact on the national fiscal revenue. In recent years, with the rapid development of social economy in our country, the real estate market also began to flourish. In2011, the real estate tax pilot work began in Shanghai and Chongqing with ’The State Council’s No.10National Notice’issued at the same time, which is a reflection that the Chinese government has attached great importance to the development of real estate and real estate tax level. Despite all those efforts made by the government and with the current situation considered,we can find that the currently available real estate tax system has been unable to keep up with the pace of development of the current real estate market for there has been no adjustments or reformes made ever since the year of1994. Therefore, thorough researches on real estate tax which are based on the history, current situation and future expectations of China and its real estate market are a pressing matter and also an effective reform on real estate tax which is based on a comprehensive analysis and study is imperative.This paper attempts to find out the deficiencies of the currently effective real estate tax system in our country through a detailed introduction of fundamental theories on real estate tax and the experience gained by countries and districts with typical patterns of real estate tax systems. This paper is aimed at demonstrating the necessity of China’s real estate tax reform while putting forward specific suggestions for the coming reform in China’s tax system one day.