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China to implement tax benefits for affordable housing initiatives
Posted on October 6, 2023 |
Starting October 1, China will eliminate taxes on the land used to construct affordable homes, reducing their costs.
Affordable housing management companies and buyers will also be relieved of stamp duty from the same date, easing their financial burden.
When purchasing affordable homes, buyers will benefit from a reduced deed tax of only 1%.
These changes are part of China's efforts to make homes more affordable and support the growth of affordable housing without copying from others