| Real Estate Investment Trusts(REITs)is a special trust system that gathers investors’ funds to invest in the real estate industry through trust investment companies,partnerships and other business models.Compared with stocks,bonds,real estate investment trusts have the advantages of stable income and low risk.With the development of China’s real estate investment,real estate investment trust can not only enrich the types of real estate investment market,but also bring considerable income from the real estate market.However,China’s current real estate investment trust system is not perfect,the need for a more authoritative system to protect its development.In contrast,the US real estate investment trusts related legal norms are more mature,the special legal system and supporting facilities in Hong Kong,Japan and Singapore are of great significance to the development of China’s real estate investment trust system.Therefore,the system development of real estate investment trust in China can adopt the development model of financial ABS,and the State Council can take the lead in formulating special system regulations,to strengthen the system construction of prudent investment obligation and relax the regulation of trust investment and financing;to establish the tax theory of real estate investment trust in the tax law,so as to provide theoretical support for the development of the system,to avoid double taxation on trust investment,to establish a different tax threshold from ordinary investment,to perfect China’s anti-tax avoidance system,to perfect investment restrictions on public and private offerings in the securities law,to perfect the listing circulation mechanism,etc.,escort for the development of real estate investment trust system in China. |
