The Ministry of Finance will continue to deepen the reform of the fiscal and taxation system, and steadily advance various tasks in fiscal reform and development, and contribute to building a new development pattern and promoting high-quality development. The proportion of direct tax should be gradually increased, with the personal income tax system further improved, while legislation and reform of real estate tax should be actively and steadily promoted. This was at least the third time it has issued a document mentioning a real estate tax in past six months. Establishing a Modern Fiscal and Taxation System with recommendations of the Central Committee for National Economic and Social Development and Long-Term Goals for 2035.
A real estate tax is expected to become an important part of the long-term real estate mechanism, combined with various long-term measures such as land system and financial system reforms, and they will have a profound impact on the real estate market. The absence of mention in the government work reports this year means that the real estate tax will not be a key task during the year, but from a long-term plan and goal perspective, the ministry will not give up legislation on real estate tax.