News: 2011-05-24 04:34:00 UTC+00

China Faces Difficulty Extending Pilot Property Tax -Senior Official

News:

  • Qin Hong, a deputy director at the housing ministry said that China will have a difficult time expanding a pilot property tax across the nation
  • China started a property tax on a pilot basis as part of efforts to rein in speculation and housing inflation
  • Many properties are exempted from the tax and in the face of significant public resistance, raising questions about the effectiveness of the new tax
Quotes:
  • "The property tax involves different parts of the society and has a complex impact on public interests, and that, along with the lack of a tax collection regime and the high cost of doing it, make it very hard to expand the tax nationwide," Qin Hong

Published: 2011-05-24 04:34:00 UTC+00 2 years, 11 months, 1 day, 17 hours, 13 min. ago
 
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