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More cities set for property tax trials in 2013
Source: Xinhua |
May 21, 2013, Tuesday
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Print Edition
Print Edition
THE government has put more cities on a property tax trial this year, the China Securities Journal reported yesterday.
The cities are set to mainly levy taxes on homes bought after the trial is implemented while also accounting for local conditions, the newspaper said.
China's property tax trial started in January 2011 in Shanghai and Chongqing.
Shanghai has taxed housing purchases since January 28, 2011, with rates of 0.4 percent and 0.6 percent while giving an exemption of 60 square meters per capita for every registered household.
The property tax in Chongqing is levied on homes purchased both before and after the pilot scheme was implemented there, at rates of 0.5 and 1.2 percent, respectively. The property tax there targets luxury home purchases.
The cities are set to mainly levy taxes on homes bought after the trial is implemented while also accounting for local conditions, the newspaper said.
China's property tax trial started in January 2011 in Shanghai and Chongqing.
Shanghai has taxed housing purchases since January 28, 2011, with rates of 0.4 percent and 0.6 percent while giving an exemption of 60 square meters per capita for every registered household.
The property tax in Chongqing is levied on homes purchased both before and after the pilot scheme was implemented there, at rates of 0.5 and 1.2 percent, respectively. The property tax there targets luxury home purchases.
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