Changes to Real Estate Taxes and Deposits Starting November 1 in China

Wednesday, October 22, 2008 12:57

For all of you who have been waiting on the sidelines of China’s real estate market waiting for the bottom, or were scared off a couple years back with all those nasty taxes, “the light is visible” for opportunites.

At least that is what a text message from a real estate agent just said.

According to the text, the following changes are going to go into effect on November 1, and it is clear that these changes are meant to stimulate investment.

  • deposit down to 20%
  • no stamp tax
  • land value increase tax eliminate
  • if under 90m, the deed tax is down to 1%

There are some for first time buyers that we could not fully make out as well

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3 Responses to “Changes to Real Estate Taxes and Deposits Starting November 1 in China”

  1. Mike T says:

    October 22nd, 2008 at 7:51 pm

    For info like this and some info on VAT changes we will be writing about on our site, just go to the source – Chinese Government’s Official Website. There you will get the official and fact based info.

    http://english.gov.cn/2008-10/22/content_1128078.htm

  2. Rich says:

    October 22nd, 2008 at 8:03 pm

    Mike

    Are you saying you can’t get the facts here? Maybe that’s why you don’t have me on your blogroll.

    R

  3. Business Tax Guru says:

    November 22nd, 2009 at 8:45 pm

    I’ve been involved in taxes for lengthier then I care to admit, both on the private side (all my employed life story!!) and from a legal point of view since satisfying the bar and following up on tax law. I’ve offered a lot of advice and rectified a lot of wrongs, and I must say that what you’ve posted makes perfect sense. Please uphold the good work – the more individuals know the better they’ll be armed to handle with the tax man, and that’s what it’s all about.

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