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<CN Home>CN Uniformly Cuts Min. Provisional Land VAT Rate for All Regions by 0.5 ppts
Recommend 41 Positive 111 Negative 51 |
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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 the Notice on Tax Policies to Promote the Stable and Healthy Development of the Real Estate Market, which clearly stipulates a number of preferential tax policies to support the development of the real estate market. It is mentioned that the lower limit of the provisional land value-added tax rate will be lowered by 0.5 ppts across the board. Localities can adjust the actual implementation rate based on local conditions. In addition, the preferential policies for value-added tax and land appreciation tax that are linked to the criteria for ordinary and non-ordinary residences are clearly defined and abolished; the transaction costs of second-hand housing are reduced; and the negative real estate corporate tax is maintained. AAStocks Financial News |
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