Shenzhen not Part of Group to Pilot Property Tax Program

Shenzhen not Part of Group to Pilot Property Tax ProgramCity tax officials stated that they didn’t receive any notice from any higher level authorities asking for a measure to pilot a property tax program in Shenzhen, the remarks came several days after the media reported industry insiders said that Shenzhen and Guangzhou will be included in the second batch of cities that will be piloting the property tax program.

In 2011 China started to levy property tax in Shanghai in hopes to stop any home speculation that the fueling risks of assets. Tax authorities said that the local tax bureau stated that preparatory work is still being planned as the Central Government is ordering the city to carry out any reforms in regards to property tax. Compared to other municipalities and provinces that are actively working in line with the Third Plenary Session of the 18th CPC Central Committee said that there are no detailed reforms plans are being devised based on levying property taxes.

As of the moment tax authorities is still waiting for order from the Central Government on when the property tax will be levied. And according to the legislative affairs office that property tax reforms will no longer be simple as expanding the scope of the pilot program. Also the idea for creating a finance authority will directly join hands with the country’s legislature to further decide on the property tax which will directly affect the tax burdens on the ordinary taxpayer.

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