Taxation Policy Adjustment concerning Real Estate Trading
2018-03-09 1342
Circular of the Ministry of Finance and the State Administration of Taxation on Taxation Policy Adjustment concerning Real Estate Trading
Cai Shui [2008] No.137
October 22, 2008
To the finance departments (bureaux) and local taxation bureaux of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan, and the finance bureau of the Xinjiang production and construction corps:
With a view to reducing tax burdens of individual house trading and supporting residents to buy their first ordinary house, we hereby notify issues concerning the levy of real estate trading tax policy with the approval of the State Council as below:
I. To individuals who bought their first ordinary house, which area is less than 90 square meters, the rate of title deed tax is reduced and unified to 1% temporarily. The proof document for first purchasing house shall be issued by the housing construction authorities of the county (district) where the house located.
II. Stamp tax shall be exempted for individuals selling or buying houses temporarily.
III. Land value-added tax shall be exempted for individuals selling or buying houses temporarily.
This circular shall come into force as of November 1, 2008.
