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  1. News - China - PROPERTY

    News of home sale tax prompts rise in weekend transactions

    Posted Mar 05th 2013, 11:38am by Ernest Kao

    ... reported on Monday. On Friday, the State Council, China’s cabinet, announced a steep 20 per cent capital gains tax on home sale profits - a move which sent mainland property developers’ shares ... sudden policy changes have triggered panic-like trading in the market,” a sales agent, surnamed Wang, said. “However, the 20 per cent tax this time is too high and both buyers and sellers ...

  2. News - China - PROPERTY

    Beijing considers property tax to curb home market

    Posted Feb 21st 2013, 12:00am by Daniel Ren

    ... Daniel Ren in Shanghai ren.wei@scmp.com Property tax back on the cards for mainland cities The central government has issued a fresh warning that it will roll out a property tax trial ... the cabinet warned it would take was the expansion of a property tax, presently implemented only in Shanghai and Chongqing on a pilot basis, to other cities. The announcement has been interpreted ...

  3. Beijing to expand tax reform trial

    Posted Jul 27th 2012, 12:00am

    ... Daniel Ren in Shanghai ren.wei@scmp.com The mainland will expand a value-added tax (VAT) reform trial next month despite complaints about incomplete preparatory work that has caused businesses to end up paying more taxes in Shanghai. The State Council said the trial conducted in Shanghai since the beginning of this year would be expanded to 10 more cities and provinces, ...

  4. Beijing may bring steel tax breaks back to life

    Posted Aug 01st 2012, 12:00am

    ... Eric Ng eric.mpng@scmp.com Beijing is mulling moves to revive an old policy exempting high-end steel sold to manufacturers of export products from a 17 per cent value-added tax ... or exempt the tax on steel used in export products to encourage users to replace steel imports with domestic products, the Shanghai Securities News reported yesterday, citing a person close ...

  5. Tax cut bandwagon is rolled out again but makes no headway

    Posted Mar 11th 2012, 12:00am

    ... as a mere rubber-stamp body, many lawmakers at the current session have complained, as reported by the mainland press, about the heavy tax burden on the people. The 2010 NPC is remembered as the first time that mainland lawmakers campaigned for tax cuts. Confucius protested against heavy taxes when he lived in the 6th and late 5th centuries BC, and one of his most widely remembered ...

  6. Beijing targets developers in amended tax measures

    Posted Apr 23rd 2008, 12:00am by Staff Reporter

    ... tax payments providing the latest evidence of the current focus of policymakers, analyst say. Under the arrangements unveiled on Wednesday last week, developers are required to prepay income tax quarterly based on an estimated taxable income calculated on a hypothetical net profit margin set in most cases at 20 per cent of presale proceeds. This compares with the previous practice ...

  7. Beijing will increase tax rebates to help exporters

    Posted Feb 22nd 2012, 12:00am

    ... Denise Tsang and Anita Lam Beijing plans to raise export tax rebates to help struggling exporters, says a senior trade official. Deputy Commerce Minister Zhong Shan was quoted by China Daily newspaper as saying that Beijing would 'at the appropriate time, increase tax rebates on specific categories of goods, including labour-intensive products'. The ministry ...

  8. Two more cities join Beijing in tax on foreigners

    Posted Jan 09th 2012, 12:00am

    ... Adrian Wan adrian.wan@scmp.com Three months after the mainland was supposed to begin levying a new tax on foreign employees, two more cities are preparing to adopt the controversial ... the long-delayed social security tax on non-Chinese employees, according to a person close to the situation. The law was supposed to take effect nationwide on October 15, but Beijing was the only city ...

  9. Mainland mulls expanding tax to more cities

    Posted Jan 07th 2012, 12:00am

    ... Peggy Sito peggy.sito@scmp.com The central government may expand its pilot property tax scheme to Guangzhou and Nanjing and some second- and third-tier cities, according to a researcher ... the overall direction of the tax scheme had been decided, and that the tax would gradually replace restrictions currently in place to regulate property prices. The central government has been ...

  10. Ai Weiwei slapped with 15m yuan tax-evasion bill

    Posted Nov 02nd 2011, 12:00am

    ... Minnie Chan minnie.chan@scmp.com Dissident artist Ai Weiwei says Beijing's tax office has demanded he pay 15 million yuan (HK$18.3 million) in back taxes and fines, in what he says ... the legal representative of their design company, Beijing Fake Cultural Development, about the tax notifications last Friday. 'If it's a tax problem, I'll pay. But if it's not, ...




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