Since the beginning of this year, personal property tax has been the focus of hot discussion inside and outside the industry. First, after the announcement of the new "National Ten Articles" in April 17, it was reported that the Shanghai version of the regulation rules may try out personal property tax, so that the topic of personal property tax recovered after the two sessions. On May 3 1 day, the State Council approved the Notice of the National Development and Reform Commission on Key Work Opinions on Deepening Economic System Reform in 20 10, and clearly put forward. Afterwards, officials of the National Development and Reform Commission said that there was no overall arrangement for the promotion of individual real estate tax reform, but the NDRC supported local pilot projects and experiments. The relevant person in charge of the tax department of Hunan Province said at the above-mentioned meeting that a recent survey found that one of the reasons for the high housing prices was that most of the taxes were concentrated in the development link. If we return to the sales and retention link, it will not only help to curb the excessive rise in housing prices, but also help to overcome the current situation that local taxes are too dependent on the real estate industry.
Relevant persons from the Ministry of Finance also said that as an important part of local taxes, the main function of personal property tax is to adjust income distribution and improve land use efficiency.
For such an important tax, the formulation of its supporting scheme is very important. At present, local taxes are subject to "two lines of revenue and expenditure". If the personal property tax is used in other aspects, it will not achieve the expected purpose. At the same time, the introduction of personal property tax is bound to be accompanied by the merger of other taxes. Some analysts believe that these factors are the reasons why the personal property tax pilot has been postponed repeatedly.
As for technical issues such as property rights confirmation, statistical caliber and tax rate, many people in the industry believe that after nearly seven years of practice, many places have already met these conditions. For the pilot cities, whether the personal property tax pilot brings great benefits or disadvantages has caused a lot of debate.
It is understood that in Shanghai, which has submitted a personal property tax pilot program, some opponents believe that the pilot will increase the burden on enterprises and residents, push up housing prices in the short term, and weaken Shanghai's "urban competitiveness."
"Urban competitiveness is a very empty concept, but many places value it." A person familiar with the matter said.
The relevant person in charge of the taxation department in Beijing also said at the above-mentioned meeting that after the personal property tax is levied, it may be difficult for ordinary people to accept from the current tax-free housing to the tax-paying housing in a short time.
"The pilot cities will not suffer too much, and there will be certain supporting measures." The above-mentioned relevant persons said that it is difficult to carry out pilot projects nationwide, and the pilot projects will start from individual cities. But he did not disclose the specific pilot cities.
Shanghai, Chongqing and Wuhan were mentioned in the previously rumored pilot cities, but the relevant departments have been slow to disclose them. It is generally believed that Shanghai is most likely to eat crabs first.
It is understood that in the pilot scheme of personal property tax submitted by Shanghai, the tax rate is initially set at 0.5%~0.8%, which is slightly lower than the tax rate of operating real estate. However, it is not clear whether the collection of personal property tax will "take care of" families with self-occupation needs and the per capita housing area is lower than the local average. A senior real estate analyst said that the previous expectation was that personal property tax would be introduced this year, and real estate stocks fell miserably. However, after the real estate stocks rebounded from the bottom, the market began to expect that personal property tax would not be pushed this year.
Some brokers also believe that if the personal property tax is piloted in 20 12, then the real personal property tax will definitely be introduced after 20 12, which should be regarded as an expected positive for real estate stocks and even the broader market. Huang Daoli, a researcher in the real estate industry of Guosen Securities, believes that the pilot rules for personal property tax have not yet come out, and the specific impact is difficult to analyze.
On 2 1 day, the trend of the real estate sector was stable, falling only 0.5 1% for the whole day, and real estate stocks were mixed. Xu Lin said that at present, the value-added tax in China is only levied on the industrial sector, and the business tax is only levied on the service industry. Because industrial value-added tax has different deduction mechanisms, and business tax does not exist, the tax burden borne by service industry is higher than that of industry, which is not conducive to promoting the development of service industry.
However, he believes that the reform of business tax and value-added tax system is more complicated, and the reform will involve the adjustment of the sharing ratio between the central and local governments. Business tax revenue is entirely enjoyed by local governments. When talking about personal real estate tax reform, Xu Lin said that China will promote personal real estate tax reform. "We have been studying this tax, and its levy can also bring stable main taxes to local governments."
Xu Lin said, "China may also levy environmental taxes and social security taxes." The pressure of environmental protection in China is very great. If polluting enterprises, including polluting individuals, do not pay environmental taxes, it will be detrimental to environmental protection.
He said that social security in China is also under great pressure, and the aging population is becoming more and more serious. The reform of the pension system is still not in place. "We are studying changing the current social security fee into social security tax." This is conducive to the establishment of a unified national social security system. On the reform of personal income tax, Xu Lin said that there are many defects in the current personal income tax collection system in China. The collection mechanism is that the wage payment unit is paid by the work unit, regardless of the population actually borne by everyone, and some people bear high personal income tax. "We still have some loopholes in the collection and management, and some people may not pay personal income tax in full. This is the main aspect of our next tax reform. "
On the reform of resource tax, Xu Lin said that resource tax is a tax that is completely enjoyed by local governments. This tax is beneficial to the development of resource-rich areas. The current resource tax is not too high, and it is levied in quantity. Local governments have not received enough tax revenue. After the implementation of resource tax reform in the future, the resource-rich central and western regions will further increase resource tax revenue. This reform will help to increase the fiscal revenue of resource-exporting areas. 20 10,10/0 On the evening of 7 October, the Shanghai Municipal Government "suddenly" announced the latest detailed rules for the regulation of the property market: within a certain period of time, it is tentatively decided that residents of Shanghai and other provinces and cities can only buy a new set of commercial housing (including the stock of second-hand housing) in Shanghai, actively make preparations for the pilot project of individual real estate tax reform, and determine the land value-added tax advance according to different housing sales prices. In fact, at the "Holiday Property Market -20 10 Shanghai Real Estate Autumn Exhibition" which ended on June 6, 65438, the news that the property market is about to issue detailed regulations has been widely circulated, although according to the organizer's statistics, the four-day "Holiday Property Market" attracted140,000 visitors, even exceeding the property market in June last year.
Analysts believe that recent rumors in the industry that Shanghai will soon introduce detailed rules for the regulation of the property market and that Shanghai will become a pilot city for the collection of personal property tax have intensified the wait-and-see attitude of buyers. Most of them hope to see substantial regulatory effects after the introduction of regulatory policies and rules.
At the exhibition site, some exhibitors said that the future development of the Shanghai property market depends on whether there is an updated policy for the Shanghai property market regulation rules. The person in charge of a participating real estate said that if Shanghai also restricts the number of family purchases and then takes the lead in collecting personal property tax, it is expected that the transaction volume will be significantly reduced and the house price may also fall.
Facts have proved that the "prediction" of the person in charge has come true. Today, the Opinions on Further Strengthening the Regulation of Shanghai's Real Estate Market and Accelerating the Work of Housing Security, which was approved by the Shanghai Municipal Government, requires that the number of households buying houses should be restricted within a certain period of time, and it is tentatively decided that households in Shanghai and other provinces and cities can only buy a new set of commercial housing (including second-hand housing) in Shanghai. If they buy a house illegally, the real estate registration agency will not accept the real estate registration.
As for the personal property tax, the Opinions also emphasize the role of taxation in the regulation of the real estate market. "According to the requirements of the state on accelerating the pilot project of individual real estate tax reform, our city will actively do all the preparatory work for the pilot project of individual real estate tax reform", strengthen the collection and management of land value-added tax, determine the land value-added tax pre-levy rate according to different sales prices, and focus on land value-added tax liquidation inspection for real estate development projects whose pricing obviously exceeds the surrounding housing prices. If the average sales price of housing development projects is lower than the average price of newly-built commercial housing in the previous year in the region where the project is located (the outer ring and the outer ring are the boundaries), the pre-requisition rate is 2%; Above but not exceeding 1 times, the pre-tax tax rate is 3.5%%; If it exceeds 1 times, the pre-tax tax rate is 5%.
The Opinions also require that commercial banks should conscientiously implement the latest regulations of the central bank and the China Banking Regulatory Commission on the down payment ratio and loan interest rate when purchasing commercial housing for residents' families, and stop issuing housing loans for loans to buy third or above houses. If a non-Shanghai resident applies for a loan to buy a house in Shanghai, he shall provide a personal income tax payment certificate or a social insurance (urban social insurance) payment certificate that has been paid in Shanghai for more than 1 year in the previous two years from the date of application. If not, commercial banks will suspend the issuance of housing loans. The housing provident fund loan policy has also been adjusted accordingly, and housing provident fund loans for the purchase of third and above houses have been stopped.
In addition, in order to increase the supply of ordinary commercial housing, Shanghai has also adjusted the allowed trading period of demolition and resettlement houses (supporting commercial housing) allocated to relocated households from the previous five years to three years.
The Opinions emphasize that Shanghai will continue to adhere to the policy of housing as the center, citizen consumption as the center and ordinary commodity housing as the focus, accelerate the establishment and improvement of the real estate market system and housing security system, increase the two-way adjustment of supply and demand, effectively increase the supply of ordinary commodity housing, guide residents to reasonable housing consumption, resolutely curb the upward trend of land prices and housing prices, accelerate the construction of affordable housing, improve residents' living conditions, and promote the stable and healthy development of the real estate market.