20 1 1 year 1 month 27th, with the approval of the State Council, Shanghai and Chongqing respectively issued interim measures for levying property tax on individual housing, marking the official start of the pilot project of levying real estate tax reform on individual housing in China. Shanghai will levy property tax on the second or more houses newly purchased by Shanghai residents' families and new houses purchased by non-Shanghai residents' families from 1 28. The tax rates are tentatively set at 0.6% and 0.4% respectively. From 1 28, Chongqing will levy property tax on single-family villas, newly purchased high-grade commercial houses and the second (including the second) ordinary houses newly purchased by individuals who have no household registration, enterprises and jobs in Chongqing at the same time, with the tax rate of 0.5-1.2%.
On March 30th, 20 15, Notice on Adjusting Business Tax Policy on Individual Housing Transfer (Caishui [2015] No.39)
All provinces, autonomous regions, municipalities directly under the central government, the finance departments (bureaus) and local taxation bureaus, the State Taxation Bureau of Tibet, Ningxia and Qinghai provinces (autonomous regions), and the Finance Bureau of Xinjiang Production and Construction Corps:
In order to promote the healthy development of the real estate market, with the approval of the State Council, the business tax policy on individual housing transfer is hereby notified as follows:
1. If an individual sells a house that has been purchased for less than 2 years, the business tax shall be levied in full; If an individual sells a non-ordinary house that has been purchased for more than 2 years (including 2 years), business tax shall be levied according to the difference between his sales income and the purchase price of the house; Individuals who purchase ordinary houses for more than 2 years (including 2 years) for external sales shall be exempted from business tax.
Second, the above-mentioned standards for ordinary housing and non-ordinary housing, the specific procedures for handling tax exemption, the time for purchasing housing, the issuance of invoices, the tax deduction certificate for the difference, the acquisition of housing in the form of non-purchase and other relevant tax management regulations, According to the Notice of the General Office of the State Council on Forwarding the Opinions of the Ministry of Construction and Other Departments on Doing a Good Job in Stabilizing Housing Prices (Guo Ban Fa [2005] No.26), the Notice of the Ministry of Finance and Construction of State Taxation Administration of The People's Republic of China on Strengthening Real Estate Tax Administration (Guo Shui Fa [2005] No.89) and the Notice of State Taxation Administration of The People's Republic of China on Several Specific Issues in the Implementation of Real Estate Tax Policy
Iii. This Notice shall be implemented as of March 3, 20 15, and the Notice of the Ministry of Finance of State Taxation Administration of The People's Republic of China on Adjusting the Business Tax Policy on Individual Housing Transfer (No.20112) shall be abolished at the same time.