Ministry of Finance and State Administration of Taxation, Adjustment to Tax Reduction and Exemption Policy Related to Real Property Tax Circular

Issued: August 19 2004

Main contents: Amendments are made to the Ministry of Finance and State Administration of Taxation, Specific Issues Relevant to Real Property Tax Interpretation and Tentative Provisions. Article 18 concerning real property of enterprises with minimal profit or suffering from loss being allowed temporary exemption from the levy and collection of real property tax by the local authorities for a certain period of time according to the actual circumstances; and Article 20 concerning temporary exemption from the levy and collection of real property tax, subject to the approval of taxation bureaux of provinces, autonomous regions or municipalities directly under the central government, from enterprises that cease production or are shut down with their original real property left idle, are both repealed.
Related legislation: Ministry of Finance and State Administration of Taxation, Specific Issues Relevant to Real Property Tax Interpretation and Tentative Provisions, 1986