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Research on the reform pilot project of real estate tax in China - Reflection on the reform of real estate tax in Chongqing and Shanghai -

  • Journal of International Business Transactions Law
  • Abbr : IBT
  • 2018, (23), pp.171-199
  • DOI : 10.31839/ibt.2018.12.23.169
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law > Private Law > International Commercial Transactions Law
  • Received : September 28, 2018
  • Accepted : October 26, 2018

RUAN, LI 1,  CHO DONG JE 1

1동아대학교

Accredited

ABSTRACT

“The people are the root of the country, only when the people are truly stable can the country achieve peace.” people’s basic necessities of life related to the national economy and people’s livelihood. No matter where, the house is closely related to people's basic life and happiness index. Real estate, as a daily necessities, has great demand rigidity in a large population like China. The fixed and limited nature of China's urban land determines that the supply of real estate is seriously lacking in flexibility. Under the intense contradiction between supply and demand, real estate has been gradually distorted into a special commodity with great investment and speculative value in the development process. Since the reform and opening up, especially since 1990s, with the establishment of the goal of socialist market economic restructuring, China's real estate has gradually moved from the past government supply to the market supply, and the real estate market has been continuously developing and growing. Because of this, in the process of rapid development of China's real estate market, the phenomenon of rapid and sustained rise in housing prices is common throughout the country. In practice, high housing prices will enable high-income groups to have more than one housing at the same time, and houses will become an important tool for such groups to invest in making money. Its value has gradually deviated from its basic functions; On the other hand, it has increased the cost of buying houses for low-income groups, which has greatly reduced their real incomes. This greatly widened the gap between the rich and the poor in the society, and then brought great influence to the national economic development and social harmony and stability. For a long time, housing prices have always been a hot issue of the people's continuous attention. The discussion on housing tax reform is quite heated. In 2011, Chongqing and Shanghai took the lead in levying property tax for all non business property, and property tax reform is imperative. It is worth pondering over how to stabilize housing prices through property tax reform and promote healthy and orderly development of the real estate market. Therefore, this paper takes the pilot project of real estate tax reform in Chongqing and Shanghai as the perspective, Through the analysis of the relevant laws and policies of the current property tax in China, the key problems in the process of the property tax reform are found and the corresponding suggestions are put forward in order to achieve the ultimate goal of the reform of the property tax.

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