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《vat-reform-in-china—impact-on-construction-and-real-estate》由會員上傳分享，免費在線閱讀，更多相關(guān)內(nèi)容在學(xué)術(shù)論文-天天文庫。
1、VATreforminChina:impactonconstructionandrealestateLachlanWolfersandCurtisNgofKPMGexplainwhatimpacttheChineseVATpilotwillhaveontheconstructionandrealestatesectorsonceitisextendedtothem.WiththefirststageoftheVATpilotprogrammeforthemodernservicesandtransportationsectorsnowimplementedinmany
2、ofthemajorcommercialcentresacrossChina,attentionisnowturningtothoseindustrieswhichareyettotransitionfrombusinesstax(BT)toVAT.Therearefewindustrieswhichevokeaswidespreadanalysisandscrutinyoftaxationpoliciesastheconstructionandrealestatesector;especiallyinChinawherethepropertymarkethasbee
3、nonarapidgrowthtrajectoryinrecentyears.China'snewleadershavepubliclystatedtheirdesiretoexpandtheVATreformstonewindustriesin2013;itiswidelyexpectedthattheconstructionandrealestatesectorwillbeamongthenextsectorstotransition,possiblyassoonasthesecondhalfof2013.Anannouncementfromthegovernme
4、ntiseagerlyanticipated.Thesignificanceofthissectortothegovernmentisself-evident,withstatisticspublishedinTheChinaTaxYearbook2011showingthatBTrevenuecollectedfromconstructionandrealestatecombinedrepresentsapproximately51%oftotalBTrevenueinChina.Thisarticletakesanadvancelookatmanyoftheiss
5、uesthattheindustry,taxauthoritiesandadviserswillneedtoconsiderinrelationtotheconversionoftheconstructionandrealestatesectortoVATinChina,basedontheexistingBTsystemandinternationalexperience.MakingVATfitInmanyothercountrieswithaVAT,thetreatmentofconstructionandrealestatetransactionspresen
6、tsdifficultchallenges.Thevaluesoftransactionsinthissectorareoftenveryhigh;andthereisusuallyamultiplicityofdifferenttaxesalreadyapplicabletosuchtransactions,sotheintroductionofVATneedstofitintotheexistingtaxregime.Theeffectoftaxationpoliciesonpropertyvaluesevokesenormousinterestamongstth
7、egeneralpopulation,andwhethertotaxpassiveincreasesinlandvaluesaspartofthevalueaddedisoftencontentious.ThepositioninChinaisnodifferent.Indeed,therehasbeensomedebateinrecentyearsabouttheneedtoembarkonabroaderreformofproperty-relatedtaxes,giventhebreadthofdifferenttaxeswhichapplyt
