Design of the Elements of Real Estate Tax on Possession from Real Estate Tax in the UK

摘要

There exist problems that the fiscal revenue and expenditure authority are not asymmetric in China's local governments for a long time. It also has aggravated a complicated situation to the imbalance between supply and demand in the real estate market, making it more difficult for the central government to control market. The reform of present tax type and introduction of real estate tax on possession can not only provide a stable source of income for the local government, but also adjust the cost composition of real estate, which is conducive to the healthy development of the market. The mature real estate tax in the UK has a strong reference in terms of functional localization, tax base determination, tax authority division and tax collection, which can bring enlightenment to the design of elements of real estate tax in China.