Tag: Real Estate Tax Law

NPC Standing Committee Authorizes Property Tax Pilots (with Translation of the Authorization)

On Saturday, October 23, China took an important, albeit small, step toward enacting a nationwide “real estate tax” [房地产税], commonly called “property tax” (we will use these terms interchangeably below). The NPC Standing Committee (NPCSC) adopted a decision authorizing the State Council to carry out property tax pilots in selected, as yet unspecified, regions, for at least five years. Reflecting the ongoing intense debates within the party-state, the decision lacks essential details about the proposed new tax and the pilots, and instead grants the State Council broad authority to design them.

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2017 NPC Session: Press Conference Provides First Look at NPCSC’s Tasks in 2017

The 5th Session of the 12th National People’s Congress (NPC) held its first press conference earlier on Saturday. The spokeswoman for the Session, Fu Ying, who is also Chairwoman of the NPC Foreign Affairs Committee, answered a total of 15 questions from both Chinese and foreign journalists. While her answers on China’s 2017 national defense budget made headlines elsewhere, here we’ll focus instead on what she revealed about the top legislature’s tasks planned for 2017.

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