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

China Faces Difficulty Extending Pilot Property Tax -Senior Official


  • 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
  • "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 05:34:00 UTC+00 4 years, 6 months, 4 days, 15 hours, 9 min. ago
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Nov 26 at 8:43 UTC