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<CN Home>CN MOF: Purchases of the Only and 2nd Homes To be Levied at Reduced Deed Tax Rate of 1% for Area of 140SQM and Below
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China's Ministry of Finance (MOF), the State Administration of Taxation (SAT), and the Ministry of Housing and Urban-Rural Development (MOHURD) issued a notice on taxation policies to promote the stable and healthy development of the real estate market. The notice proposed that for individuals purchasing the only family residence, the deed tax would be levied at the reduced rate of 1% for an area of 140 sq.m. and below; and for an area of more than 140 sq.m., the deed tax would be levied at the reduced rate of 1.5%. For individuals purchasing a second home for their family, the deed tax rate was cut to 1% for an area of 140 sq.m. and below, and 2% for an area of more than 140 sq.m. A second home for the family refers to a second home purchased by a family that already owns a home. AAStocks Financial News |
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