Research On My Country's Real Estate Tax System Reform

The reform of real estate tax system has always been an important issue in China's fiscal and tax system,and it is also the only way for China to build a modern fiscal and tax system.During the National People's Congress and the Chinese Political Consultative Conference in 2019,the government work report made clear the need to steadily advance legislation on real estate tax,further highlighting the importance of the reform of the real estate tax system.At present,the local finance in our country is subject to the tax distribution system and the real estate regulation,which is not matched with the increasing power and pressure.It can be said that local fiscal problems are the direct cause of the reform of real estate tax system.For a long time,the local finance of our country depends on the real estate-related transfer income and tax revenue deeply,and the revenue from tax distribution is a little insufficient.With the real estate market entering the depth of regulation,the ‘land finance' of local governments is facing adjustment and entering the transition stage.At the same time,the reform of real estate tax system plays a positive role in promoting local finance,restraining the irrational growth of housing price in the short term,optimizing local economy and income redistribution.This paper studies the influence of five taxes on Shanghai's finance and housing price,including real estate tax,land value-added tax,farmland occupation tax,deed tax and urban land use tax,so as to strengthen the necessity of China's real estate tax system reform.Through the research,it is found that the real estate tax is conducive to strengthening the tax capacity of local governments,and at the same time,it can restrain the growth of housing prices in the short term and moderately ease the pressure of residents to buy houses.Compared with the countries and regions with more developed real estate tax,China's real estate tax exposes many problems,mainly focusing on the legislative power,tax base,repeated collection,tax assessment,collection management and tax construction.Although our country has already carried out the pilot project of related taxes in Shanghai and Chongqing,the effect is not significant,and there is still muchroom for improvement in the system content.At the same time,real estate tax reform will also face huge challenges from tax structure adjustment,vested interests and information.China's real estate tax system reform,a long way to go.This paper mainly compares and draws lessons from the real estate tax systems in the United States,Singapore,Japan and Hong Kong to provide China with appropriate reform ideas and countermeasures.Through the literature study,system comparison and practical consideration of the literature in the field,this paper gives feasible suggestions from five aspects: the basic principles of reform,system construction,factor design,evaluation system and real estate registration system.However,considering the perspective and idea of this paper,the research on real estate tax reform needs to be further deepened.