Off the wire
• China's central SOEs cut 2,730 subsidiary legal entities  • 2nd LD Writethru: 8 killed in Lahore explosion, officials deny second blast  • Indian Foreign Secretary visits Bangladesh  • Vietnam's seafood shipments to have e-certificates  • Top seeds to face challenges in first round of CBA playoffs  • IMF to offer funds to support Benin's economic development  • Vietnam reports some 30,000 malaria cases each year  • Overseas online booking companies required to pay added tax in Vietnam  • Yao Ming: Chinese basketball reform needs to think about priorities  • Pacific fish to be tested in climate change conditions: New Zealand-Australian study  
You are here: 　 Home

China to step up property tax legislation: official

Xinhua, February 23, 2017 Adjust font size:

China will move more swiftly in legislating a long-discussed property tax law, an official said on Thursday.

"It is a major task in China's tax reform determined by policymakers, and the lawmaking process will be accelerated," Lu Kehua, vice minister of housing and urban-rural development, said when answering questions on progress on the tax law during a press conference.

Related government agencies and legislators are carrying out work according to the plan, Lu added.

China has pushed forward the work for years, but progress has remained slow. A trial property tax has been introduced in Chongqing and Shanghai.

The law will fill the gap in taxing home ownership, as China's current housing tax mechanism mainly taxes development and property sales. Endi