- Individuals selling homes owned for two years or more will be exempt from VAT in cities like Beijing, Shanghai, Guangzhou, and Shenzhen starting from 1 December 2024
- The government has also reduced the minimum pre-collection rate for land VAT by 0.5 percentage points to support the market
Source: vatcalc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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