Realty tax needs time to be realized

The Government Work Report Premier Li Keqiang delivered to the national legislature on March 5 said the local tax systems would be improved and legislation on real estate tax prudently advanced. Real estate tax legislation concerns people across society.

But a series of conditions is required to levy real estate tax. Maybe that's why the tax is not on the legislation agenda this year.

First, the legislation planning issued by the Standing Committee of the National People's Congress in September 2018 listed legislation on real estate tax as the first batch of draft laws mature enough to be submitted for review. But before being submitted to the NPC Standing Committee for review, the important issues of the draft have to be thrashed out by, among other things, soliciting internal opinions.