- China will reduce the VAT rate on housing sales held under two years from 5% to 3%, effective January 1, 2026.
- Housing sales of properties 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: en.people.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.
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