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| Author: | |
| Title: | The Ministry of Finance makes fiscal and taxation policies on housing reform (original in Chinese) |
| Journal: | Modern Economic Information (c)
1994 : 2, p.5 |
| Index terms: | TAXATION CHINA |
| Language: | chi |
| Abstract: | The Ministry of Finance recently worked out regulations on the funds, materials and taxation of housing reform to the effect that funds for the key construction of sources of energy, communications and regulation funds of the state's budget are exempt from taxation. When an individual purchases public lodging from the unit at the standard price, the house property of this individual's fund-providing unit will be exempt from taxation. After a unit sells public housing to an individual, the land use right still belongs to the unit, and taxes on land use shall be calculated, levied or exempt according to regulations. If the land use right belongs to the individual and the house is for his own use, the taxation on land use shall be exempt for 3 years. |
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