Does the value-added tax on land have to be paid for the transfer of individual residences? Expert: You worry too much.

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 Does the value-added tax on land have to be paid for the transfer of individual residences? Expert: You worry too much.


Japan, the Ministry of Finance and the State Administration of Taxation publicly solicited opinions from the public on the Land Value Added Tax Law of the Peoples Republic of China (hereinafter referred to as the Draft for Soliciting Opinions). Real estate tax is still hot, land value-added tax legislation is coming again? In fact, the land value-added tax law has been implemented in China for more than 20 years.

What changes have been made in the draft for comments?

The current collection of land value-added tax is based on the Interim Regulations of the Peoples Republic of China on Land Value-added Tax promulgated in 1993 (hereinafter referred to as the Interim Regulations), which has been implemented for more than 20 years. Why are you soliciting opinions publicly now? Lou Jianbo, director of the Real Estate Law Research Center of Peking University, told Sino-Singapore longitude and latitude clients that the main purpose was to implement the principle of legality of Taxation and to change the administrative regulations on taxation originally formulated by the State Council into laws.

In terms of content, the draft solicits opinions is not very different from the provisional regulations already implemented. The draft solicits opinions stipulates that the taxpayer is the unit or individual that transfers real estate and obtains income in China, and the tax rate is the same as the original four-level progressive tax rate. At the same time, the draft solicits opinions further clarifies the scope of tax payment, exemption and deduction.

In the view of Lou Jianbo, there are two revisions to the draft for comments that deserve our attention. First, for the first time, the transfer of collective land use rights, buildings on the ground and their attachments are included in the scope of taxation. He said that this is related to collective land reform.

Second, the draft of soliciting opinions stipulates that the land value-added tax of real estate development projects should be paid in advance and then liquidated, and the liquidation mode of tax payment by real estate enterprises should be changed from liquidable to liquidated. Previously, although it was also pre-paid and then liquidated, the liquidation was audited by the tax authorities according to the materials provided by taxpayers, which may lead to the situation that the tax authorities could not examine each family in detail. Now it is for the taxpayers engaged in real estate development to settle their own accounts. Taxpayers should abide by their tax obligations, which will improve the accuracy of tax payment and the seriousness of the tax law. Lou Jianbo said.

Do you have to pay for selling your house?

Many residents who have transferred ordinary houses say they have not paid land value-added tax. This is because although the Interim Regulations previously implemented did not specify that individuals do not levy land value-added tax, the Notice of the State Administration of Taxation of the Ministry of Finance on the Adjustment of Tax Policies for Real Estate Transaction Links (Fiscal and Tax [2008] 137) stipulates that land value-added tax is temporarily exempted for individual sales of housing.

The Draft Request for Opinions stipulates that units and individuals who transfer real estate and obtain income within the territory of the Peoples Republic of China shall pay land value-added tax as taxpayers of land value-added tax in accordance with the provisions of this Law.

So, residents must be very concerned about a question: will the exemption of personal sales of housing be effective? Is it possible to levy on individuals in the future?

In this regard, Lou Jianbo believes that the absence of land value-added tax on individuals is a policy space for the long-term mechanism of macro-control of real estate, and the possibility of levying is not ruled out in the future if house prices soar.

But logically speaking, the logic of levying land value-added tax and real estate tax on individuals at the same time is contrary. The purpose of collecting property tax is to let a family sell the surplus housing and increase the market supply. If the value-added part of the sale is taxed at the same time, it will inhibit the motive of sale and have a countervailing effect. So there is little possibility of levying it now. Building Jianbo said.

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