State Council Said to have Approved Introduction of Pilot Property Tax Program

Web exclusive published on April 22, 2010
Translated by Pang Lei
Original article: [Chinese]

According to news obtained by the Economic Observer, a plan to introduce a property tax in 4 pilot cities has already recieived approval from China’s State Council.

The tax will first be trialed in Chongqing, Shenzhen and Beijing, however, the introduction of the tax in Shanghai is likely to be delayed until after the World Expo has concluded.

The trial property tax is likely to be implemented in a progressive fashion, so that rates for larger properties will be charged at a higher rate than those on smaller properties.

After the property tax has been piloted in these four cities, it will be applied on a national scale.