Govt to accelerate property tax legislation

Zhang Yesui, China's vice-foreign minister, at the news conference of the first session of the 13th National People's Congress, March 4, 2018. [Photo/Xinhua]

China will speed up property tax legislation and aims to fully implement law-based taxation reform by 2020, a spokesperson for the annual session of China's top legislature said on Sunday.

"Accelerated efforts have been made to improve the draft of property tax law, to conduct debate on important issues and to have internal consultation," said Zhang Yesui, spokesman for the first session of the 13th National People's Congress (NPC), at a news conference.

Zhang added that related authorities will endeavor to submit the draft of property tax as soon as possible.

According to Zhang, the country has now issued six pieces of tax laws including laws on environmental protection, tobacco leaf and vessel tonnage.

"Additional three tax laws concerning farmland conversion, vehicle purchase and resources will be made this year," said Zhang.