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Hangzhou may join other cities in wider property tax trial
By Cherry Cao |
May 30, 2013, Thursday
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Print Edition
Print Edition
CHINA will very likely extend a property tax trial to more cities in the second half of this year with the tax imposed only on homes bought after the trial is implemented, the China Securities Journal said yesterday, citing unidentified sources.
Levying taxes on homes bought after the trial is launched should help ensure a "smooth" implementation of the program and that should remain a principle though the cities may introduce different schemes, the newspaper said.
There is a high chance that Hangzhou in east China's Zhejiang Province will be covered by the tax trial, the newspaper said. Speculation has it that Hangzhou will introduce a similar program to Shanghai's.
Shanghai and Chongqing launched the pilot program in January 2011.
Levying taxes on homes bought after the trial is launched should help ensure a "smooth" implementation of the program and that should remain a principle though the cities may introduce different schemes, the newspaper said.
There is a high chance that Hangzhou in east China's Zhejiang Province will be covered by the tax trial, the newspaper said. Speculation has it that Hangzhou will introduce a similar program to Shanghai's.
Shanghai and Chongqing launched the pilot program in January 2011.
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