- The Jiangxi Provincial Tax Bureau of the State Administration of Taxation is adjusting the pre-tax rate, the fixed collection rate, and the tax administration period for land value-added tax in the province.
- The pre-tax rate for land value-added tax for real estate development projects in the province is 1% for ordinary standard residential and non-ordinary standard residential, 2.5% for other types of real estate, and 0% for affordable housing.
- For real estate development projects that are subject to fixed collection, the method of determining the transfer income or the method of determining the deduction items shall be adopted preferentially; if the deduction items cannot be determined, the tax authorities shall calculate the tax burden rate for different types of real estate and determine the fixed collection rate based on the principle of whichever is higher between the calculated tax burden rate and 5%.
- For individuals who transfer non-residential inventory, the fixed collection rate is 5%.
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.
