The State Administration of Taxation (the "SAT") has recently issued the Circular on Revising the Tax Declaration Forms for Some Types of Property Behavior Tax (the "Circular").
According to the Circular, this revision shall concern urban land use tax, housing property tax, deed tax, increment tax on land value, and stamp tax and cover a total of 19 tax forms. Among them, the new forms for housing property tax and urban land use tax improve in terms of adding new items of information to report concerning tax deduction and exemption, as well as the change in the tax source, more specifically: 1. the detailed statement shall add lines for collecting information on tax reduction and exemption, along with a declaration form for detailed tax reductions and exemptions, while removing the items "Nature of Tax Reduction or Exemption" and "Size (Original Value) of Tax Reduction or Exemption" in the main form; 2. the item "Title of Tax Reduction or Exemption" shall be added on the basis of the existing "Code for the Nature of Tax Reduction or Exemption;" 3. the starting and ending times for tax reduction or exemption for difficulties shall be added; and 4. items of information to report concerning tax reduction and exemption shall be added to the Statement of the Sources of Housing Property Tax Levied on the Basis of Rent, while the item "4% tax rate" shall be removed from the same statement.