Ministry of Finance and State Administration of Taxation, Tentative Measures for Special Expense Deductions on Individual Income Tax (Draft for Comments)

财政部、国家税务总局个人所得税专项附加扣除暂行办法 (征求意见稿)

November 28, 2018 | BY

Susan Mok

Issued: October 20, 2018 Main contents: Where a taxpayer himself/herself or his/her spouse uses a personal housing loan from a commercial…

Promulgated: 2018-10-20

Issued: October 20, 2018

Main contents: Where a taxpayer himself/herself or his/her spouse uses a personal housing loan from a commercial bank or housing reserve to purchase residential premises for himself/herself or for his/her spouse, the interest expenditures incurred for the initial housing loan may be deducted at the fixed rate of Rmb12,000 per year (Rmb1,000 per month) during the loan repayment term. A taxpayer shall be eligible for the deduction of interest for only one initial housing loan (Article 12).

issued: 2018-10-20

This premium content is reserved for
China Law & Practice Subscribers.

  • A database of over 3,000 essential documents including key PRC legislation translated into English
  • A choice of newsletters to alert you to changes affecting your business including sector specific updates
  • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]