Personal income tax: when the inherited property is sold, it must be paid at the rate of (total price-original acquisition cost) *20%; Deed tax: property buyers who purchase houses for the first time can enjoy certain tax relief if the area meets the requirements; Business tax: depending on the holding time of the property, it may be necessary to pay business tax, and it may be exempted if it has been held for more than five years and is the only house; Stamp duty, land value-added tax, etc. The collection standards of these taxes and fees are related to the specific situation and need to be implemented by the local tax authorities.
Composition of taxes and fees for house demolition:
1, personal income tax: calculated according to the income from the sale of the house, if it is the only house and has been held for five years, it can be exempted;
2. Value-added tax and surcharges: If the property has been held for less than two years, the value-added tax, urban construction tax and education surcharge will be levied according to the sale value of the property;
3. Deed tax: property buyers need to pay when buying a house, and the tax rate varies according to the housing area and policies;
4. Stamp duty: both parties to the transaction pay according to the contract amount, with low tax rate;
5. Land value-added tax: when the house is sold, if there is any land value-added part, it must be paid according to the prescribed proportion.
To sum up, the taxes and fees to be paid for the sale after inheriting the name of parents' demolition and housing reform include: personal income tax paid by subtracting 20% of the original purchase cost from the total price, deed tax that may be reduced or exempted according to the buyer's situation, business tax that may be levied according to the holding time (the only house is exempted for more than five years), stamp duty and land value-added tax that may be generated according to local regulations.
Legal basis:
Interim Regulations of People's Republic of China (PRC) Municipality on Deed Tax
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The deed tax rate is 3-5%. The applicable tax rate of deed tax shall be determined by the people's governments of provinces, autonomous regions and municipalities directly under the Central Government within the range specified in the preceding paragraph, according to the actual situation in the region, and reported to the Ministry of Finance of People's Republic of China (PRC) and State Taxation Administration of The People's Republic of China for the record.
Provisional Regulations of People's Republic of China (PRC) Municipality on Stamp Duty
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The following documents are taxable documents: (1) purchase and sale contracts, processing contracts, construction project contracts, property leasing, cargo transportation, warehousing, loans, property insurance, technology contracts or documents of a contractual nature; (2) Transfer of property rights; (3) Business account books; (4) Rights and licenses; (5) Other tax vouchers determined by the Ministry of Finance.