A reduced deed tax of 1% will be levied on the purchase of affordable housing by home buyers
PHOTO
China will exempt urban land used for the construction of affordable housing projects from tax from Oct. 1, the finance ministry said on Thursday.
Affordable housing management firms and buyers will also be exempted from stamp duty from the same date, the ministry said.
A reduced deed tax of 1% will be levied on the purchase of affordable housing by home buyers, it added. (Reporting by Ella Cao, Ellen Zhang and Liz Lee; Editing by Sharon Singleton)
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
© ZAWYA 2024
