As of today Shenzhen’s taxi fuel surcharge is back to 3 yuan. The city transportation commission said that move bought back the fuel surcharge back to 3 yuan after it was increased to 4 yuan that followed the fuel price increase in March. The surcharge adjustments came after the recent decrease in the price of [...]
The city urban planning, land and resources commission will be conducting tax reform on luxury housing purchases and ownership. The reform is interpreted by the local housing industry as a mark for an implementation of a property tax. The reform will raise tax on buyers and owners of luxury housing such as villas and large [...]
According to the deputy head for the Ministry of Housing and Urban Rural Development Qi Ji, China is planning to conduct an experimental property tax program in more cities this year at a moderate pace. However the ministry is still yet to decide on the cities in which the program will be expanded. Several speculations [...]
According to the “Report on the Implementation of Central and Local Budgets for 2011 and on Draft Central and Local Budgets for 2012” presented to the National People’s Congress on March 5, China’s key tax reforms in 2012 will focus on six specific types of taxes, namely: Property tax (PT) Value-added tax (VAT) Resource tax [...]
Including city-specific details on Chengdu, Guangzhou and Shenzhen Both Chinese nationals and a foreign individuals are subject to a combination of taxes on real estate rental income: including individual income tax (IIT), business tax (BT), property tax (PT), urban maintenance and construction tax (UMCT) and an education surcharge (ES). If simply left to adding up [...]
A preferential tax system will allow Hong Kong and other overseas professionals who work in the Qianhai special development zone in Shenzhen to pay their income tax at Hong Kong rates. A zone administration spokesman said that specialists working in the Qianhai zone need only pay personal income taxes at rates levied by the Hong [...]
Around 1.7 million people will be spared from paying individual tax in September when the State Council will approve an amendment that raises the monthly tax exemption threshold. The previous threshold was at 2,000 yuan while the new threshold will be 3,500 yuan. Also the time limit for paying taxes was extended to fifteen days [...]
1.7 million people living in Shenzhen are exempted from this year’s income tax. An amendment was issued that raised the monthly tax threshold from 2,000 yuan up to 3,500 yuan. This adjusted threshold was 500 yuan higher than the original amount that was proposed during the amendment of the draft that was submitted to the [...]
The local taxation authority will start taxing according to property values rather than the contractual prices of pre owned housing starting July. Property tax is another measure that has been implemented to control speculation on housing and to tighten taxation control over transactions. The new taxation mechanism will give a picture of home transactions and [...]
Let’s get down to brass tacks: how many people actually live in our fair city? Some official numbers say somewhere in the region of 6-8.9 million people, which, while a lot of people, doesn’t seem at all close to the reality. Normally, the government would have an easier time judging the numbers of people living [...]
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