China Weighs Property Tax
China is considering introducing new or higher taxes on real estate, possibly even a U.S.-style property tax, which would mark a significant escalation of its struggle to cool down a booming property market now widely being described as a bubble.
中國正在考慮對房產(chǎn)加征更高的新稅項(xiàng),可能仿效美國引入房產(chǎn)稅;眼下人們普遍認(rèn)為中國的房產(chǎn)市場存在泡沫,此舉標(biāo)志著中國政府控制房產(chǎn)市場過熱的努力躍上了一大臺階。
How authorities handle any kind of property tax -- the prospect of which is fiercely opposed by some property developers -- will have significant implications for China's economy, and will ripple through global markets. The construction boom is the main driver of the current recovery in China, and is one of the few parts of the world economy growing strongly right now. Construction also underpins China's demand for raw materials, which has helped to support global prices for commodities, such as copper and iron ore.
這一稅項(xiàng)的征收可能招致部分地產(chǎn)開發(fā)商的激烈反對,中國政府將如何處理房產(chǎn)稅的問題將對中國經(jīng)濟(jì)產(chǎn)生重大影響,并可能波及全球市場。房地產(chǎn)業(yè)的蓬勃發(fā)展是當(dāng)前中國經(jīng)濟(jì)復(fù)蘇的主要推動力,目前中國是全球絕無僅有的幾個經(jīng)濟(jì)強(qiáng)勁增長的地區(qū)之一。地產(chǎn)業(yè)也支撐了中國對原材料的需求,推動了銅和鐵礦石等大宗商品全球價格的走高。
In recent months, many prominent local economists have urged authorities in Beijing to make more use of the powerful tool of taxation to curb property speculation and rein in runaway prices. China now levies several types of taxes on property sales, but authorities are said to be considering higher transaction taxes that target luxury properties, or possibly a tax on property values similar to the kind levied by local governments in the U.S.
近幾個月來,許多知名本土經(jīng)濟(jì)學(xué)家都在敦促政府更多利用稅收這一有力工具來遏制房產(chǎn)投機(jī)、控制飛漲的價格。目前中國向房產(chǎn)銷售征收了幾種不同的稅項(xiàng),但據(jù)說政府正在考慮面向豪宅征收更高的交易稅,或仿照美國地方政府那樣基于房產(chǎn)價值征稅。
The reasoning is that higher taxes will make it less attractive to invest in real estate. And giving local governments more revenue from property taxes could reduce their incentive to keep prices high to profit from sales of land-use rights.
這么做的原因在于稅率的提高將削弱人們對地產(chǎn)投資的興趣。而且讓地方政府從房產(chǎn)稅中獲得更多收入將使它們不再那么熱衷于保持房價高企、讓自己從拍地中獲益。
Opponents fear new taxes would shatter confidence in the real-estate market, leading to a bust that would damage the entire economy.
對此持反對意見的人士則擔(dān)心新稅項(xiàng)的推出可能會破壞地產(chǎn)市場的信心,進(jìn)而可能傷害整個國家經(jīng)濟(jì)。
In a notice last week announcing a package of policies to contain rapidly rising housing prices, China's State Council told tax authorities to speed up the drafting of tax policies that will 'guide appropriate purchases of housing and regulate personal gains from property.' The government has given few details publicly, and local media have in recent days been filled with conflicting reports about the different types of taxes that could be introduced in various areas.
中國國務(wù)院在上周發(fā)布了《關(guān)于堅(jiān)決遏制部分城市房價過快上漲的通知》,文中要求稅務(wù)機(jī)關(guān)要加快研究制定引導(dǎo)個人合理住房消費(fèi)和調(diào)節(jié)個人房產(chǎn)收益的稅收政策。政府這幾天來并未發(fā)布具體相關(guān)細(xì)則,在有關(guān)征收何種稅項(xiàng)的問題上各地媒體也充斥著自相矛盾的報導(dǎo)。
'The details of the tax are very sketchy right now, but there is a sense of urgency from the government to ease prices, not just for economic reasons, but also for social reasons. The rich-poor disparity is troubling,' said Wu Jianxiong, an analyst from Central China Securities.
中原證券(Central China Securities)分析師吳健雄說,目前關(guān)于這些稅項(xiàng)的信息還非常粗略,但是能看出政府在調(diào)整價格方面的緊迫感,這不光基于經(jīng)濟(jì)考慮,也是出于社會原因,貧富差距問題正困擾著中國社會。
Average urban-property prices in China rose an average of 11.7% in March, the fastest pace since the Chinese government began releasing the data in July 2005. Prices in major cities such as Shanghai and Beijing are increasingly making property unaffordable for large portions of the population, and have become a focus of public discontent.
中國3月份70個大中城市房屋銷售價格同比上漲11.7%,創(chuàng)下了中國政府2005年7月份發(fā)布此類數(shù)據(jù)以來的最大漲幅。北京、上海等大城市房價的飛升已經(jīng)使得大部分市民無力購房,人們對此怨聲載道。
China's government has promoted widespread homeownership and has repeatedly said it will continue to support first-time home buyers even as it rolls out restrictive policies aimed at investors and speculators.
中國政府仍支持民眾擁有自己的住房,雖然針對房產(chǎn)投資和投機(jī)客推出了嚴(yán)格的政策,但政府仍重申將繼續(xù)對首次購房者給予支持。
So analysts expect any new tax policies to be imposed on high-end residences, or target individuals who have bought multiple properties.
所以分析人士預(yù)計(jì),如果確實(shí)有新的稅收政策出臺,其對象也只會是高端住宅,或已經(jīng)購買了多套房產(chǎn)的個人。
Currently, China levies several forms of one-off taxes related to a property transaction, such as a stamp duty, an income tax and a transaction tax.
目前,中國對房產(chǎn)交易征收多種形式的一次性稅收,比如印花稅、所得稅和交易稅。
Though many options are being discussed, many analysts and market observers think the government could impose what is being labeled as a 'property consumption' tax on luxury property in select cities -- a term that could be interpreted as a tax on anything beyond a primary residence.
雖然有很多選項(xiàng)正在討論之中,但不少分析人士和市場觀察者認(rèn)為,政府有可能在部分城市對高端房產(chǎn)征收一種叫做“房產(chǎn)消費(fèi)稅”的稅種。這個概念可被解讀為一種對基本住房以外一切房產(chǎn)征收的稅種。
A more radical change would be to start levying an annual tax based on the value of people's homes -- the kind of property tax that a homeowner in the average U.S. suburb would be familiar with.
而如果以人們住房的價值為基礎(chǔ)征收一種每年征收的稅種,那將是一種力度更大的改革。這就是美國一般郊區(qū)的房主都熟悉的一種物業(yè)稅。
This has been advocated by Chinese economists who say local governments need a more secure revenue source.
中國一些經(jīng)濟(jì)學(xué)家一直就在提倡征收這個稅種。他們認(rèn)為,地方政府需要有一種更加穩(wěn)定的收入來源。
'The main purpose of such a tax would be to dampen speculative demand and to increase the costs of holding property for wealthy people,' said Hingyin Lee, director of research and advisory from Colliers International.
高力國際(Colliers International)研究與顧問負(fù)責(zé)人李慶賢(Hingyin Lee)表示,這樣一種稅收的主要目的,將是抑制投機(jī)性需求,增加富人持有房產(chǎn)的成本。
Chinese media have reported that such a tax may be implemented in Chongqing, a vast city in southwestern China that has been a focal point of experiments in urban governance.
中國媒體曾有報道說,重慶有可能征收這個稅種。重慶是中國西南的一個大城市,一直是城市治理的重點(diǎn)試驗(yàn)地區(qū)。
In an interview with a newspaper backed by the official Xinhua news agency, Chongqing's mayor, Huang Qifan, said the city had proposed to the national government a plan for a Western-style property tax for high-end properties.
重慶市市長黃奇帆接受官方通訊社新華社旗下報紙采訪時說,該市已向中央提交了一個針對高端物業(yè)征收西式物業(yè)稅的方案。
Chongqing has proposed an annual tax equivalent to 1% of the value of any home over 200 square meters that has sold for three times the average market price, Mr. Huang said in the interview.
黃奇帆在這次采訪中說:“我們做了一套方案,如果你這房子是200平方米(以上),但是價格又相當(dāng)于市場均價的三倍以上,我就收你1%的特別稅。”
The tax would rise to 1.5% if a home sells for four times the average price, and would continue rising on a progressive scale up to 5% of the full house price. The interview didn't specify how the average price would be estimated.
如果一套住房的銷售價為均價的四倍,稅率就會升到1.5%,如果銷售價再高上去,稅率就會大幅提升,最高達(dá)到5%。采訪稿中沒有具體說明怎樣估計(jì)市場均價。
A Chongqing city spokesman, Wen Tianping, confirmed the details of the plan and said it had been submitted to the State Council for approval.
重慶市政府發(fā)言人文天平證實(shí)了該方案的細(xì)節(jié),并表示方案已報國務(wù)院批準(zhǔn)。
In a potential sign of the sensitivity of the planned tax, on Friday the interview was no longer available on the newspaper's Web site. The Chongqing city spokesman said he didn't know why the report had been taken down.
到上周五,這家報紙的網(wǎng)站上已經(jīng)看不到上述采訪稿。這或許反映了新稅的敏感性。文天平說,他不知道這篇報道為什么已從網(wǎng)上拿下。
China now collects 1.2% annual tax on 70% to 90% of the value of commercial property, and analysts say another possibility would be to extend the commercial-property tax to third and subsequent homes by classifying such properties as income-generating.
中國目前對商用房產(chǎn)按其價值的70%到90%每年征收1.2%的稅。分析人士說,另外一種可能性就是把第三套及以上的住房歸類為營利性房產(chǎn),進(jìn)而征收類似于商用房產(chǎn)的稅。
Analysts said it is hard to predict how much further sales volumes and prices would fall under any new property-tax policy, given the lack of details over the tax policies, and that adjustments may have to be made to current transaction costs to avoid duplication.
分析人士認(rèn)為,很難預(yù)計(jì)實(shí)施物業(yè)稅新政策之后,住房銷量和價格還會進(jìn)一步下降多少,因?yàn)檫@些政策還缺少細(xì)節(jié)。另外他們認(rèn)為,可能也需要針對當(dāng)前的交易成本做一些調(diào)整,以防止重復(fù)計(jì)稅。
'Sales of high-end residential homes will definitely be hit,' said Johnson Hu, an analyst from UOB Kayhian. 'Transaction volumes have already dipped this week as home-buyers take a wait-and-see approach.'
大華繼顯(UOB Kayhian)分析師胡繼中(Johnson Hu)說,高端住宅的銷售肯定會受到?jīng)_擊,由于買房人持觀望態(tài)度,本周的交易量已經(jīng)下降。