According to the website of the Ministry of Finance, on September 30, the Ministry of Finance and the State Administration of Taxation jointly released the Announcement on Individual Income Tax Policies to Support Residents to Swap for Housing (hereinafter referred to as the Announcement). According to the Announcement, from October 1, 2022 to December 31, 2023, taxpayers who sell their own houses and buy new houses in the market within one year after the sale of the existing houses will be given preferential tax rebates for the personal income tax paid on the sale of the existing houses. Where the amount of newly purchased housing is greater than or equal to the amount of current housing transfer, all the paid individual income tax will be refunded; If the amount of newly purchased housing is less than the amount of current housing transfer, the individual income tax paid for selling the current housing will be refunded according to the proportion of the amount of newly purchased housing to the amount of current housing transfer. Taxpayers enjoying preferential policies must meet the following conditions at the same time: 1. The houses sold and re purchased by taxpayers should be in the same city. The same city refers to all administrative divisions under the jurisdiction of the same municipality, sub provincial city and prefecture level city (region, prefecture and league). 2. Taxpayers selling their own houses must be directly related to the newly purchased houses, and should be the property owner or one of the property owners of the newly purchased houses. (Liu Xinshe)
Edit：Yi Bin Responsible editor：Li Bin Wei
Source：People's Daily online
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