Beijing, 9 Sep (ZXS) -- Since 28 October this year, China has exempted land used for the construction of affordable housing projects from urban land use tax. Stamp duty related to affordable housing and stamp duty related to affordable housing purchasers of affordable housing shall be exempted.
The Ministry of Finance, the State Administration of Taxation and other departments that announced the above-mentioned preferential tax policies clarified on the 28th that enterprises, institutions, social groups and other organizations that transfer old houses as affordable housing and the value-added amount does not exceed 20% of the deducted project amount are exempt from land value-added tax.
Deed tax is exempt from deed tax for affordable housing management units that repurchase affordable housing and continue to be used as affordable housing. For individuals purchasing affordable housing, deed tax is levied at a reduced rate of 1%. Affordable housing projects are exempt from administrative fees and government funds.
At the same time, in order to support the running of universities, real estate tax will be exempted from real estate tax for university student apartments before December 2027, 12; Stamp duty is exempt from the rental contract of university student apartments signed with university students.
Recently, the Ministry of Finance and the State Administration of Taxation have also successively announced the continuation of a number of preferential tax policies to support railway construction, the development of medical service institutions, the restructuring and restructuring of enterprises and institutions, the development of rural finance, and promote the comprehensive utilization of resources and environmental protection. Most of the relevant preferential tax policies will be implemented until the end of 2027, which mainly include:
Consumption tax exemption is granted to lubricating oil, base oil, gasoline, diesel and other industrial oils produced from recycled waste mineral oil.
Corporate income tax will be halved on the interest income earned by corporate investors holding railway bonds issued from 2024 to 2027. Individual income tax will be levied on individual investors holding railway bonds issued from 2024 to 2027, minus 50% of the taxable income.
Urban land use tax is exempted from urban bus stations, road passenger transport yards, and urban rail transit system operation land. (End)