On the evening of the 18th, the Beijing Municipal Commission of Housing and Urban Rural Development, Beijing Municipal Finance Bureau, Beijing Municipal Taxation Bureau and other three departments jointly issued the "Notice on Matters Related to the Cancellation of Ordinary Housing Standards" (hereinafter referred to as the "Notice"), which will cancel the standards for ordinary and non ordinary housing from December 1st, and increase the tax incentives for housing transactions. The Notice points out that after Beijing cancels the standards for ordinary and non ordinary housing, individuals who purchase housing for more than 2 years (including 2 years) and sell it to the outside world will be exempt from value-added tax. Individuals who purchase housing for less than 2 years and sell it to the public shall pay full value-added tax at a rate of 5%. The Notice specifies that Beijing applies the same preferential policies for individual property purchase deed tax as those nationwide. For individuals who purchase the only house in their family (including the buyer, spouse, and minor children, the same applies below) with an area of 140 square meters or less, deed tax will be levied at a reduced rate of 1%; For areas of 140 square meters or more, deed tax will be levied at a reduced rate of 1.5%. For individuals who purchase a second home for their family with an area of 140 square meters or less, deed tax will be levied at a reduced rate of 1%; For areas of 140 square meters or more, deed tax will be levied at a reduced rate of 2%. The specific operational measures for Beijing to enjoy the preferential policies of deed tax shall still be implemented in accordance with current regulations. The Notice shall come into effect on December 1, 2024. Before December 1, 2024, if the value-added tax and deed tax related to personal sales and purchases of housing have not been declared and paid, those that meet the regulations can be applied and executed. (New Society)
Edit：Yao jue Responsible editor：Xie Tunan
Source：CNS.cn
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