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China Collects Value-Added Tax on Land
China began to collect value-added tax on land from real estate developers on Thursday in the central government's effort to cool the country's property market.

• Chinese Expect More "Affordable Houses"
A revived capital gains tax imposed on Chinese real estate developers has brought hope to many Chinese citizens who can not afford to buy an apartment. China announced on Wednesday the enforcement of a land appreciation tax of 30 to 60 percent on net gains made from all property development deals.

• China Tightens Land Tax Collection
China will start to collect a land tax, which has been suspended for over a decade, from real estate developers in the central government's latest effort to cool the country's property market.

Reactions

Public: "I am glad the fat pockets of real estate developers will be squeezed," said Tian Yu a 23-year-old girl who teaches at a university in Beijing.

"The real estate developers might transfer the tax burden to consumers and push up housing prices even further,"said a student studying economics at a university in Beijing.

Local Governments: National Business Daily reports that Shanghai will likely outline how to calculate the value-added tax on land in the middle or latter part of this month.

Shanghai Securities News says Nanjing has come up with detailed guidelines on how to calculate the value-added tax on land, but have yet to make them public.

Measures

• China Tightens Land Tax Collection

• Taxes Proposed to Rein in Property Speculation

• China Raises Tax Rates on Urban Land Use

• Beijing to Count Houses, as Property Prices Continue Soaring

• Beijing to Build 110,000 Affordable Houses

• New Macro-Control Measures to Curb Soaring House Prices

Housing Prices Keep Soaring

• China's Housing Prices up 5.5 Percent Last Year

• New House Price in Big Cities Keeps Soaring

• Real Estate Prices in Beijing to Increase by 11%

• Ratio between Housing Price, Income too High for Beijing People to Accept

Analysis

• Top Think Tank Warns of Property Bubble as House Prices Soar
The Chinese Academy of Social Science (CASS), a top think tank in China, has warned of the potential danger of a property bubbles burst in China in a report on the world economy in 2007.

• House Prices 'Harm Building of Harmony'
Housing and harmony have never been so closely connected at least in the eyes of researchers in the Chinese capital.

• Public Blames Local Gov'ts for Increasing Housing Prices
The public blames local governments for the continued surge in housing prices with only 20.6% still believing the government can turn the tables, according to a survey.

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