Author(s)

Minxuan Zhong, and Pengyun Wang

Corresponding Author

Minxuan Zhong

ABSTRACT

Housing is the rigid demand of contemporary young people, but housing prices remain high, and housing expenditure accounts for a large proportion of household consumption expenditure. This article analyzes the current status of housing loans, combines the interest deduction standards for housing loans under the newly revised Individual Income Tax Law, and points out the significance of implementing this measure. Finally, according to the housing loan interest deduction system in South Korea, Japan, Singapore and the United States, combined with China's national conditions, put forward suggestions for the future reform of personal income tax housing loan interest deduction.

KEYWORDS

Personal income tax, interest deduction for housing loans, pre-tax deduction