Tax policies, particularly estate taxes, need to be devised to stimulate charitable activity among China's super-rich.
The case for retaining estate taxes in Britain and America is weaker on grounds of simplicity.
Basic introduction to the current real estate tax system, affirmed the advantage of the real estate tax in every special period, during the taxation 's transition.
The real-estate tax is calculated under the rate on leasing income method. The applicable rate is 12%.
Real estate tax, fee for use of ground, deed tax, stamp tax, vehicle license tax, and etc.
They will now have hospital visitation rights, access to health insurance, tax deductions and relief from estate taxes.
The land, real estate, vehicles and vessels for their own use are exempt from urban land use tax, real estate tax, and vehicle and vessel use tax.
And given the uncertainty surrounding the estate tax, families with taxable estates need to make sure their documents are written to account for that uncertainty.
By comparison, China's real estate tax revenue only accounts for approximately 10% of local fiscal revenue, far from becoming an adequate revenue source for local governments.
Therefore, China shall take initiatives to expand the range of real estate taxation and increase the fiscal revenue for the government, hence establishing the dominant position of real estate taxes in local fiscal revenue.
In recent years, the increasing rate of the real estate tax is seriously inconsistent with the developing speed of real estate, which exposes the weakness of the collection and management of the tax.
Property tax, also known as estate tax, is a tax for ownership of real estates, which is collected in view of realty ownership.
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