State Administration of Taxation, Circular on Issues Relevant to the Administration of the Settlement of Land Value-added Tax on Real Property Developers

国家税务总局关于房地产开发企业土地增值税清算管理有关问题的通知

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The Circular changes the practice of pre-levying land value-added tax to settlement of the land tax after the project is complete.

Issued: 28 December 2006
Effective: February 1 2007

Main Contents: Article 2 of the Circular states that real property developers shall settle land value-added tax (land VAT) when the construction of the real property development project is complete and the sales of the property units have been concluded; where there is a transfer of the entire real property development project on which construction has not yet been completed; or where there is a direct transfer of leasehold.

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