State Administration of Taxation, Circular on Issues Relevant to Strengthening the Administration of Tax Collection on the Giving of Immovable Property by Individuals in Real Property Transactions

国家税务总局关于加强房地产交易个人无偿赠与不动产税收管理有关问题的通知

November 30, 2006 | BY

clpstaff &clp articles

Issued: September 14 2006Main contents: The Circular states that deed tax shall be collected from the donee of immovable property given by another individual.…

Clp Reference: 3200/06.09.14 Promulgated: 2006-09-14

Issued: September 14 2006

Main contents: The Circular states that deed tax shall be collected from the donee of immovable property given by another individual. If the donee, after receiving the immovable property, transfers the property, the taxable income shall be the balance after deducting the taxes paid in the course of receiving and transferring the residential premises and relevant reasonable expenses from the income derived from the property transfer, and the donee shall pay individual income tax at the applicable tax rate of 20%.
Related legislation: Circular on Several Specific Issues Relevant to the Implementation of Real Property Tax Policy, 2005 and PRC Law on the Administration of the Levy and Collection of Taxes (Revised in April 2001), Apr 28 2001, CLP 2001 No.5 p.12 & CLP 1995 No.3 p.12

clp reference:3200/06.09.14
promulgated:2006-09-14

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