The Real Estate Tax Law Passed The Fastest Way In 2017 But Did Not Suppress The "Sharp Weapon" Of Housing Prices.

The real estate tax can inhibit the holding of multiple suites to a certain extent, but it is not a "sharp weapon" to suppress house prices.

Several experts believe that the adoption of the real estate tax legislation does not mean that it will immediately levy.

Therefore, the real estate tax law is expected to pass before the end of 2017, and may be submitted for consideration at the end of 2017.

According to Xinhua news agency, the newly revised legislative plan for the twelve NPC Standing Committee was released to the public this week, including

The 34 legislative tasks included, which means that the real estate tax law, which has attracted much attention, has been formally incorporated into China's legislative plan.

Experts predict that the real estate tax law is expected to be passed in 2017, but the real estate tax is unlikely to land in the short term before the completion of the real estate registration.

Earlier media reports reported that the real estate tax was exempted from 60 square meters per person.

In the long run, the real estate tax is expected to increase the tax burden on holding links, which will greatly inhibit investment speculation and contribute to the rational and steady development of the real estate market.

The real estate tax law passed the fastest in 2017.

The newly revised legislative plan for the twelve NPC Standing Committee has been released to the public this week. The real estate tax law, which has attracted much attention, has officially entered the NPC's legislative plan.

China News Agency quoted Liu Jianwen, chairman of the Law School of Peking University and President of the China finance and Taxation Law Research Association, said: "the term of the NPC is until the end of 2017. Therefore, it is estimated that the real estate tax law will be passed by the end of 2017 as soon as possible. If it is slow, it may be submitted for consideration at the end of 2017 and passed in the next session of the NPC."

Shi Zhengwen, Professor of the Institute of Finance and taxation law, China University of Political Science and Law, said, "I believe that the real estate tax law will be open to public consultation next year, and will be considered by the end of next year."

Shi Zhengwen said that the deliberations needed a certain amount of time. If the parties formed a consensus, it was not impossible to pass in 2017. "The possibility of passing through the past two or three years is very great."

Prior to this, Jia Kang, former director of the Ministry of Finance and the Institute of Fiscal Science, said that in 2015, the budget report of the "two sessions" clearly indicated the basic attitude of the reform of the real estate tax on "coordinating legislation". (micro-blog)

In the third Plenary Session of the 18th CPC Central Committee, we called for accelerating the legislation of real estate tax and promoting reform in a timely manner.

From the timetable, according to the central requirements, it should be the latest "two sessions" in 2017 to approve the legal text of real estate tax.

Moreover, after the NPC passed, it is not simply to expand the scope of reform, but to implement it in accordance with the law.

China News Agency quoted Shi Zhengwen, Professor of the Institute of Finance and taxation law of China University of Political Science and Law, as saying that the adjustment means that the real estate tax is to be collected sooner or later. "This time, the real estate tax law with high social concern has been incorporated into the legislative plan, which responds to the controversy over whether the real estate tax should be imposed. This shows that the legislative work of the real estate tax is proceeding steadily according to the plan.

The five year legislative plan of this NPC means that the tax law will normally be passed before the end of 2017.

How far is the distance from taxation? Two conditions: legislation + real estate registration

The formal levy of real estate tax requires at least two basic conditions: the unified registration system of real estate and the legislation of real estate tax.

Now that the legislation of real estate tax is incorporated into the legislative procedure of the NPC, it may also be passed in 2017, so the collection of real estate tax is getting closer and closer.

First of all, from the perspective of legislation, most experts believe that the adoption of the real estate tax legislation does not mean that the real estate tax will be introduced immediately.

Shi Zhengwen said, "after the adoption of the legislation, it does not mean that it will be introduced immediately in the whole country. The two are not synchronous."

The real estate tax is a typical local tax. When the levy will be authorized by the local government, it will not be collected at any time.

Secondly, according to the unified registration system of the immovable property, according to the general plan of the Ministry of national land, the basic system of unified registration was established in 2014, and the implementation of unified registration system was promoted in 2015. The implementation of the unified registration system was implemented in 2016. Before 2018, the real estate registration information management foundation was put into operation, and the unified registration system of real estate was basically formed.

The important point is that the registration information of all levels of real estate registration institutions should be incorporated into a unified platform for information management of real estate registration, so as to ensure the real-time sharing of registration information of four levels of state, province, city and county.

Therefore, the real estate registration is actually the national personal housing information registration networking.

In 2013 the national "two sessions", Deputy Minister of housing, Qi Ji said publicly that 40 cities housing information networking work has been completed (recently, media reports said 60 cities have been networked).

The next stage is to achieve simultaneous interconnection of 500 cities.

According to official caliber, the basic platform of real estate registration information management has been put into operation, and the unified registration system of real estate has basically been completed before 2018.

It can be seen that the possibility of landing property tax in the short term is small.

Basic framework of Taxation: collection and establishment of levy points on the basis of area

Earlier, a source close to the Ministry of housing news said, "at present, the real estate tax in the area as a unit of the collection scheme has been basically passed."

According to the principle of Taxation, it is easier to calculate the starting points in terms of area, and more equitable and reasonable, according to the principle of taxation.

According to the insider,

Similar to other taxes, there will be "exemption" part, that is, individuals or families in the "exemption area" within the housing, do not pay real estate tax.

At the same time, because the real estate tax belongs to the local tax category, the "exemption area" will also be defined according to the local housing situation.

Meanwhile, Ni Hong, a researcher with the State Council Development Research Center, said recently that the real estate tax reform should combine the existing property tax with the urban land use tax.

This means that the real estate tax will increase the tax burden on the real estate holding link, and it is based on the assessment value of real estate, and other land value-added tax and deed tax will not be included.

After tax, the impact on the property market is limited.

The real estate tax can inhibit the holding of multiple suites to a certain extent, but it is not a "sharp weapon" to suppress house prices.

From experience, many countries, including the Hongkong region of our country, have real estate holding tax, but can not stop the fluctuation of house prices. In some years, housing prices are still rising, for example, the housing prices in Hongkong have been rising for 10 years. Shanghai has not been able to suppress housing prices since the introduction of property tax in 2011.

From the perspective of domestic taxation, the tax base and tax rate of property tax in China will be less than that of developed countries in the future, and the impact on house prices will be limited.

However, Zhang Hongwei, director of the consultancy research department, told reporters that the real estate tax system is to make the real estate market healthier.

When the real estate tax is formally launched, and gradually improve the fiscal and taxation policies and measures as one of the three systems of the long-term regulation mechanism of the property market (land, finance and taxation and Finance), we will adjust the demand structure of the real estate market by means of taxes and fees, adhere to the "de investment" and prevent the market supply from being too large, and the future real estate market will return to the property of owner occupied property, and the property market will return to a relatively healthy development track in the "Silver Age".

The real estate tax can also increase government revenue, so the local government "laughs".

For local governments, the real estate tax will become a very important source of revenue after land finance, and local governments will also have greater impetus to move forward.

The Levy of real estate tax can also regulate the gap between the rich and the poor.

Real estate tax is direct tax, which is more conducive to regulating the income distribution gap than indirect tax.

The conversion of real estate tax to the holding link (real estate tax) actually means that China has begun to levy property taxes.

The Levy of property tax shows that China has really launched the ambitious plan to regulate the gap between the rich and the poor.

As for the impact of the stock market, the concern is undoubtedly property stocks.

Some market participants pointed out that the introduction of real estate tax in the short term will have a certain impact on real estate stocks and the market as a whole.

It is mainly reflected in two aspects, one is to aggravate the fluctuation of market sentiment, the two is to aggravate the fluctuation of stock prices in the relevant sectors of the real estate industry chain.

From the perspective of market sentiment, the stock market is relatively volatile and market confidence has not recovered.

If the pilot of real estate tax is introduced, it will aggravate market sentiment.

In addition, the valuation of real estate stocks is more serious, and some overvalued stocks will fall back.

However, market participants have different opinions on the real impact of the real estate tax, but the overall picture is not pessimistic.

At the same time, the real estate tax falls on the initial stage of real estate, building materials, steel and other industrial chains.

It is likely to fluctuate because of the uncertain future of the industry.

Such shares are mostly heavyweights in the market, and the market will also be implicated.