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Chinese President Calling for Implementation of a Nationwide Property Tax — Orbitax Tax News & Alerts

According to recent reports, Chinese President Xi Jinping has called for advancing legislation to reform and implement property tax nationwide as part of efforts to reduce inequality. China has been considering a nationwide property tax for several years, with pilot property tax programs introduced in Chongqing and Shanghai in 2011. The introduction of a nationwide property tax was also included in the legislative plans of the Standing Committee of China's National People's Congress in 2015 but did not progress further. While no clear plans have been made, it is expected that if a nationwide property tax is approved, it will be rolled out gradually beginning with wealthier cities and provinces with different rates applying in different areas.