Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)

Research Proposals on the Reform of Real Estate Tax in China

Based on China’s Actual Situation and International Experience

Authors
Jiayi Huang1, , Haoni Jiang2, , Fuming Wang3, , Xiaochen Zhao4, *,
1Bachelor of Ccommerce, The University of Melbourne, Parkville VIC 3010, Australia
2International College, Jiangxi University of Finance and Economics, Nanchang, 330013, China
3Division of Business and Management, Beijing Normal University - Hong Kong Baptist University United International College, Zhuhai, 519087, China
4Joint Institute, Shanghai Jiao Tong University, Shanghai, 200240, China

These authors contributed equally

*Corresponding author. Email: mango_zxc@sjtu.edu.cn
Corresponding Author
Xiaochen Zhao
Available Online 26 March 2022.
DOI
https://doi.org/10.2991/aebmr.k.220307.177How to use a DOI?
Keywords
real estate tax; real estate economy; tax base; tax rate; reasonable preferential policies
Abstract

The real estate tax is a local tax widely set up all over the world, providing local governments with stable and sustainable tax revenue. Through the analysis of the pilot policies of the real estate tax in Chongqing and Shanghai, it is shown that real estate tax in Chongqing and Shanghai is not the most effective tool to regulate the housing price, although it can reduce the growth of housing price. The real estate tax in Chongqing and Shanghai is still inadequate in the rationality of policy and the ability to regulate the housing price. This paper outlines three problems in the real estate economy: uneven distribution of wealth, an imbalance between supply and demand, and speculation behavior leading to economic bubbles. Given the current situation of China’s real estate market and drawing lessons from foreign experience, the recommended solutions for the reform of real estate tax are: determining tax base, formulating tax rate, making reasonable preferential policies, establishing a complete national real estate information system and introducing formal laws to legalize real estate tax activities. This paper summarizes the existing policies and puts forward feasible suggestions for large-scale implementation of real estate tax in China.

Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

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Volume Title
Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
26 March 2022
ISBN
978-94-6239-554-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.220307.177How to use a DOI?
Copyright
© 2022 The Authors. Published by Atlantis Press International B.V.
Open Access
This is an open access article under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Jiayi Huang
AU  - Haoni Jiang
AU  - Fuming Wang
AU  - Xiaochen Zhao
PY  - 2022
DA  - 2022/03/26
TI  - Research Proposals on the Reform of Real Estate Tax in China
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 1074
EP  - 1080
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.177
DO  - https://doi.org/10.2991/aebmr.k.220307.177
ID  - Huang2022
ER  -