China presented this Wednesday (13) tax incentives to support the real estate sector that will come into force from December 1st this year, according to a statement from the Ministry of Finance.
The ministry will expand eligibility for the 1% deed tax to include apartments up to 140 square meters, instead of the previous 90 square meters.
The minimum pre-collection rate for land value added tax will be reduced by 0.5 percentage points, according to the statement.
