China Property Tax Needed to Fix Wealth Gap, Researcher Writes
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A property tax in China is “desperately needed” to “reverse” the country’s imbalances in wealth distribution, Zhang Monan, a researcher with the State Information Center, wrote in a commentary published in today’s China Daily newspaper.
The nation needs to improve its property reporting system and to levy taxes on various personal holdings, including on real estate, capital earnings, inheritances and donations, Zhang wrote. The State Information Center is a research agency under the National Development and Reform Commission.