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Ex-Finance Minister Calls For Real Estate Tax Overhaul

CHINA PRESS
MNI (BEIJING)

China should expand and implement a full real estate taxation system as soon as the economy returns to normal, according to ex-finance minister Lou Jiwei. In a recent article, Lou said real-estate tax is an important feature in the development of China’s financial system and evolution of local tax revenue. The complexity of property rights is the biggest difficulty to enact the required legislation, especially the differences in ownership rights and income between urban and rural dwellers.(Source: Yicai).

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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