- China will reduce the VAT rate from 5% to 3% for individuals selling housing held for less than two years, starting January 1, 2026.
- Housing held for two years or more will be exempt from VAT.
- The new VAT provisions can be applied retroactively to undeclared or unpaid VAT before January 1, 2026, if requirements are met.
Source: global.chinadaily.com.cn
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.
Latest Posts in "China"
- China Urges Targeted, Risk-Based Measures in Invoicing Crackdown to Protect Legitimate Business
- Fujian Tax Bureau Seeks Public Input on Land Value-added Tax Collection Draft Announcement
- China Eliminates Export VAT Refunds for Photovoltaic, Battery Products Starting April 2026
- China’s Crackdown on Invoice Economy Disrupts Copper Trade and Metals Financing
- China’s Tax Crackdown Disrupts Copper and Metals Trade, Slashing Invoice Quotas and Transactions
