Recently, the State Administration of Taxation (SAT) issued the Guidelines on Tax and Fee Incentives to Support Coordinated Development (Coordinated Development Guidelines) and the Guidelines on Tax and Fee Incentives to Support Shared Development (Shared Development Guidelines).
Among them, support consumption to boost confidence in tax incentives, for the purchase and sale of property or rental there are a number of deductions:
1. VAT exemption for individual sales of housing
2. Individuals are exempted from personal income tax on the transfer of the only living room of the family for their own use.
3. Exemption of individual income tax on the gains from the difference in the price of housing units sold at a low price.
4. Exemption from stamp duty on the sale or purchase of housing by individuals
5. Exemption from land value-added tax on the sale of housing by individuals
6. Individuals purchasing resettlement housing are exempt from stamp duty
7. Reduction of deed tax for individuals purchasing resettlement housing
8. Deed tax exemption for individuals acquiring resettlement housing as a result of housing expropriation
9. Reduction of the deed tax for individuals purchasing the family's only home or a second improved home
10. Individuals purchasing affordable housing are subject to a 50% reduction in deed tax.
11. Deed tax exemption for urban workers purchasing public housing for the first time
12. Individual income tax refund for residents exchanging houses
13. Individuals renting out housing are subject to a reduced personal income tax of 10%.
14. Individual rental housing exemption from stamp duty
15. Reduced value-added tax on rental housing for individuals
16. Reduced property tax for individual rental housing
17. Individuals renting housing are exempt from urban land use tax
With regard to tax incentives for the promotion of urban and rural housing development, the following taxes and fees are exempted:
1. Exemption of personal income tax on income related to poverty alleviation and relocation of poor people from land
2. Deed tax exemption for poor people relocated for poverty alleviation who acquire resettlement housing
3. Exemption of Deed Tax and Stamp Duty on Construction Land Acquired by the Implementing Entity of the Relocation Project for Poverty Alleviation and Poverty Alleviation
4. Stamp duty exemption for the main body of the implementation of the relocation project for poverty alleviation and the project unit
5. Exemption of urban land use tax for land used for housing in relocation for poverty alleviation
6. Exemption of deed tax and stamp duty for the purchase of resettlement housing by the main body of the relocation project for poverty alleviation.
7. Qualified shantytown renovation expenditures are allowed to be deducted before EIT.
8. Exemption from urban land use tax for land used for the construction of resettlement housing
9. Exemption of stamp duty related to the renovation of resettlement housing
10. Exemption of land value-added tax on the transfer of old houses to be used as resettlement housing units for renovation
11. Operating management unitsbuyoutRetrofit resettlement housing continues to be exempted from deed tax as retrofit resettlement housing stock
12. Exemption of land for construction of affordable housing from urban land use tax
13. Exemption of Affordable Housing Operation and Management Units from Relevant Stamp Duty
14. Exemption of land value-added tax on the transfer of old houses as affordable housing units
15. Exemption of Deed Tax for Buying Back Affordable Housing as Affordable Housing Supply
16. VAT exemption on rental income from public housing
17. Donation of housing as public rental housing is deducted before enterprise income tax in accordance with public welfare donation
18. Donation of housing as public rental housing is deducted before individual income tax in accordance with public welfare donation
19. Exemption of public rental housing from property tax
20. Exemption from property tax for rental of public rental housing
21. Exemption of land for public housing from urban land use tax
22. Exemption of public rental housing operation and management units from relevant stamp duties
23. Exemption of stamp duty for signing public rental housing lease agreements
24. Exemption of land value-added tax on the transfer of old houses as public rental housing units
25. Deed tax exemption for the purchase of housing as public rental housing by public rental housing operation and management units
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(Source: Guangzhou Daily)
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