Guangzhou City, Clarification on Certain Taxation Issues Related to Urban Real Property Tax Circular
广州市地方税务局关于明确城市房地产税若干税政问题的通知
February 28, 2003 | BY
clpstaff &clp articles &Issued: August 23 2002Main contents: The Circular clarifies certain issues related to the collection of real property tax. Generally, the amount paid on…
Issued: August 23 2002
Main contents: The Circular clarifies certain issues related to the collection of real property tax. Generally, the amount paid on property owned by foreign-invested enterprises, foreign enterprises, or foreign individuals is calculated based on value, but may also be calculated based on rental income when the property is let (Item One). The taxable value is set at the property's original value as listed under fixed assets in the enterprise's accounts (Item Two). The taxable value does not include the value of the land (Item Three). Real property developers are exempt from paying real property tax on property that is unsold but real property tax will be imposed after the tax exemption period has passed for leasing property or property for own use (Item Five). Foreigners, overseas Chinese, and citizens of Hong Kong, Taiwan, and Macao are currently exempt from paying real property tax on non-commercial property, but shall pay real property tax on office space whether or not it is in use (Item Seven).
Related legislation: Urban Real Property Tax Tentative Regulations; Questions Relevant to the Levy and Exemption of Taxes on Real Property, Residential Premises and Use of State-owned Land by Sino-foreign Equity Joint Ventures, Overseas Chinese and Their Family Circular, 1980 and State Administration of Taxation, Several Questions Concerning the Levy of Urban Real Property Tax on Foreign Investment Enterprises Circular, Mar 8 2000, CLP 2000 No.4 p10
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