Source: CCTV.com

03-14-2008 10:49

China looks set to cut taxes on low rent and affordable housing projects. This is according to new regulations released by the Ministry of Finance and the General Administration of Taxation.

China looks set to cut taxes on low rent and affordable housing projects. This is according to new regulations released by the Ministry of Finance and the General Administration of Taxation.

New laws are slashing taxes for any purchase of affordable housing by as much as 50 percent. While operators of low-rent housing will be exempt from business and property taxes. Regulations will take effect on August the 1st. As for developers involved in low rent and affordable housing projects, they will also have the benefit of more favorable policies.

Editor:Xiong Qu