Shenzhen Moving ahead with New Property Tax

Government Asks for Property Tax

back

Shenzhen will release a detailed plan this week for local implementation of the new national tax law that levies a 20-percent tax on profits from sales of pre-owned homes.


Additionally, the Guangdong Province Government used a regulation released Monday to toughen restrictions on home prices and ask that four cities — Guangzhou, Shenzhen, Zhuhai and Foshan — strictly follow national home - purchase limitations intended to rein in skyrocketing home prices.

The cities of Shenzhen and Guangzhou, where home prices are especially increasing, are required to release plans for annual objectives to curb prices of newly built homes this week.



Related Article