Source: Beijing Daily
Original title: The Standing Committee of the Municipal People’s Congress passed a decision to maintain the specific applicable tax rate of the city’s deed tax
On July 30, the 32nd meeting of the Standing Committee of the 15th Municipal People’s Congress voted and passed the “Decision of the Standing Committee of the Beijing Municipal People’s Congress on the Specific Applicable Tax Rates of Beijing Deed Tax and Other Related Matters”. 3%, keeping the specific applicable tax rate of the current deed tax unchanged.
The decision also clarified the exemption and reduction measures: if the land or house is expropriated or requisitioned by the people’s government at or above the county level, and the ownership of the land or house is re-acquired, the transaction price does not exceed the part of the land, house compensation fee, and resettlement subsidy. Deed tax; if the house is destroyed due to force majeure, and the housing ownership is regained, the deed tax is exempted.
The deed tax for individual purchases of housing is still in accordance with the current preferential policy, that is, “For individuals purchasing the only house in the family with an area of 90 square meters or less, the deed tax will be reduced at 1%; for the area of 90 square meters or more, the tax will be reduced at 1.5%. Levy deed tax.”
The “Decision” will be implemented simultaneously with the “Deed Tax Law of the People’s Republic of China” from September 1. (Takae)
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