According to the announcement, Huizhou will soon adjust the approved collection rate of personal income tax and land value-added tax on the transfer of individual second-hand houses. The date for soliciting opinions on the announcement is 202 1 year 10/day, and will be changed from 202 1 year 1 month/kloc-0. Among them, the approved personal income tax rate for individuals (excluding individual industrial and commercial households) transferring second-hand houses is adjusted to 1%, and the approved personal income tax rate for individuals (excluding individual industrial and commercial households) transferring second-hand non-residential houses is adjusted to 1.5%. In case of transfer under special circumstances such as auction, it shall be implemented in accordance with relevant tax policies. In addition, the approved land value-added tax rate for individuals (including individual industrial and commercial households) transferring second-hand non-residential land is adjusted to 5%. It is worth noting that Huizhou's current personal income tax on the sale of real estate is 2%, which has been reduced by half after adjustment.
Coincidentally, Zhuhai, which belongs to Guangdong-Hong Kong-Macao Greater Bay Area, recently lowered the personal income tax rate for the transfer of second-hand houses.
On September 16, the website of Zhuhai Municipal Taxation Bureau of State Taxation Administration of The People's Republic of China published a notice on soliciting opinions from Zhuhai Municipal Taxation Bureau of State Taxation Administration of The People's Republic of China and Hengqin New District Taxation Bureau of Zhuhai City of State Taxation Administration of The People's Republic of China on adjusting the approved collection rate of personal income tax and land value-added tax on the transfer of second-hand houses in Zhuhai (draft for comments). According to the announcement, Zhuhai will soon adjust the approved collection rate of personal income tax and land value-added tax on the transfer of individual second-hand houses. The date for soliciting the announcement is 202 1 year 1 month 17, and will be changed from 202 1 year1month/kloc-0.
It is reported that the Announcement clarifies the appropriate adjustment of the approved personal income tax rate for the sale of real estate in the Announcement of the Taxation Bureau of Zhuhai City, State Taxation Administration of The People's Republic of China, and the Taxation Bureau of Hengqin New District, Zhuhai City, State Taxation Administration of The People's Republic of China on Issues Related to the Income Rate and the Approved Collection Rate of Personal Income Tax (No.3, 20 19), the approved personal income tax rate for the transfer of second-hand houses by individuals is adjusted to 1%, and the approved personal income tax rate for the transfer of second-hand non-residential houses by individuals is adjusted to/KLOC. In case of transfer under special circumstances such as auction, it shall be implemented in accordance with relevant tax policies. It is worth noting that the personal income tax rate for the transfer of second-hand houses by individuals in Zhuhai was 2%.
Reduce the transaction cost of second-hand houses
By combing the above announcements in Huizhou and Zhuhai, we can see that "in order to further promote the unification of tax law enforcement standards between regions, fair the tax burden of second-hand housing transfer, improve the convenience of tax collection, reduce the cost of tax collection, and improve tax compliance and social satisfaction."
At least four cities in Guangdong Province, including Zhuhai and Huizhou, have lowered the tax on second-hand housing transactions since September.
Yan Yuejin, research director of the think tank center of Yiju Research Institute, said that from the perspective of the reasons for adjustment, the contents of "deepening the reform of tax collection and management" were mentioned in the announcements of various cities, so the starting point of similar adjustment was not deeply related to real estate, but related to the reform of the tax department. From the perspective of deepening the reform of tax collection and management, according to the "Opinions on Further Deepening the Reform of Tax Collection and Management" issued in March this year, it explicitly mentioned reducing the collection cost and promoting the unification of tax law enforcement standards among regions. Judging from the second-hand housing market, in the past, the tax collection or the existence of different local standards and too complicated tax calculation methods were obviously contrary to the requirements of reducing the cost of tax collection and unifying levy standard. From the perspective of Guangdong market, the adjustment of tax and fee standards for second-hand houses has supported the construction of Guangdong-Hong Kong-Macao Greater Bay Area to some extent, and it is expected to be unified at least in the region.
According to the calculation of Leyoujia Research Center, taking the average transfer price of Zhuhai as an example, after the tax rate adjustment, a set of ordinary houses can save a full 20,000 yuan, and a set of non-ordinary houses, namely commercial apartments, office buildings and shops, can save 10000 yuan, and the land value-added tax will be reduced simultaneously by 10000 yuan, which will save 20,000 yuan in total.
In August, 40,720 first-hand houses were sold in Jiucheng, Guangdong-Hong Kong-Macao Greater Bay Area, down 18.0% from the previous month and 42. 1% from the same period last year.
Yan Yuejin pointed out that the adjustment of taxes and fees will also have an impact on the transaction of second-hand houses. First, the current second-hand housing transactions in various places are facing the pressure of cooling down, and the adjustment of the second-hand housing tax policy has greatly reduced the cost of second-hand housing transactions and contributed to the circulation of second-hand housing. Second, it is necessary to prevent intermediaries and other institutions from speculating on such policies, especially on housing and housing prices.