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China decided to suppress the right of stamp on the purchases of real estates as well as the value-added tax on the sale of lands, in order to revitalize the real estate sector in recession, the Treasury secretary announced Wednesday.
The tax on the purchase of contracts of the first lodging built on a surface lower to 90 m2 will be reduced to 1% from November 1st, according to the same source.
The popular Bank of China, central bank, announced Wednesday that the deposit later poured for the first lodging to private use of a surface of more than 90 m2serait superior to 20% of the total amount, that decision will enter in force October 27.