Real Estate

On September 7 2006, the State Council and Ministry of Land announced new rules to control land. These include increased compensation for evicted residents…

The draft property law has been submitted to China's legislature, the Standing Committee of the National People's Congress (NPC), for a fifth reading after…

Issued: May 24 2006Main contents: Starting from June 1 2006, residential premises (including low-priced residential premises) with a unit floor area of…

Issued: July 11 2006Main contents: The Opinions comprise four sections on:1. Regulating the Entry of Foreign Investment into the Real Property Market;2.…

Issued: July 18 2006Effective: as of August 1 2006 for Article 2Main contents: When calculating the taxable income for individual income tax on income…

By Brian Chen and Hui [email protected]; [email protected]: www.jonesday.comSince establishing a system for the granting of state-owned…

After the third revision to PRC Individual Income Tax Law taxable income is now the monthly income less a deduction of Rmb1,600 for expenses.

The new rules revises six aspects including increasing the deductible amount for income from contracting for or leasing the operation of enterprises or institutions and clarifying tax returns procedures while further stipulating the duties of withholding agents in relation to tax withheld on the full amount for all personnel.

The New Opinions on Foreign Investment in China Real Estate represents the PRC government's concern and determination to cool down an overheated real estate market.