Ministry of Finance and State Administration of Taxation, Circular on Revising the Business Tax Policy for Assignment of Residential Premises by Individuals
财政部、国家税务总局关于调整个人住房转让营业税政策的通知
Full business tax levied on sale of property within five years.
Share:
Issued: January 27 2011
Effective: January 28 2011
Main contents: Where an individual sells his/her residential premises purchased for less than five years, business tax shall be levied on the full amount derived from the property sale. Where an individual sells his non-ordinary residential premises purchased for five years or more, business tax shall be levied on the difference between the sales revenue and the purchase price of the premises. Where an individual sells his ordinary residential premises purchased for five years or more, business tax shall be exempted (Article 1).
Repealed legislation: Circular on Revising the Business Tax Policy for Assignment of Residential Premises of Individuals, Dec 22 2009, CLP 2010 No.1 p.39