Shaanxi Province Adjusts Land Value Increment Tax Pre-levy Rate to 0.5%

• The State Taxation Administration of Shaanxi Province has issued an announcement regarding the adjustment of the land value-added tax pre-levy rate
• This adjustment aims to better utilize the regulatory role of the land value-added tax and promote stable and healthy development of the real estate market
• The adjustment is based on the Interim Regulations of the People’s Republic of China on Land Value-Added Tax and its implementation details, as well as other relevant national tax announcements
• The new unified pre-levy rate for land value-added tax across the province, except for affordable housing, is set at 0.5%
• The announcement was made on December 30, 2024, under notice number 3 of 2024 from the State Taxation Administration of Shaanxi Province

Source: lexiscn.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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