Interim Regulations of the People's Republic of China on Land Value Increment Tax (Revised in 2011)
Interim Regulations of the People's Republic of China on Land Value Increment Tax (Revised in 2011)
Interim Regulations of the People's Republic of China on Land Value Increment Tax (Revised in 2011)
Order of the State Council of the People's Republic of China No.588
January 8, 2011
(Promulgated by the Order of the State Council of the People's Republic of China No.138 on December 13, 1993 and revised under the Decision of the State Council on Repealing and Revising Certain Administrative Regulations on January 8, 2011)
Article 1 The Interim Regulations of the People's Republic of China on Land Value Increment Tax (the "Regulations") are formulated to regulate the order of the land and real estate market transactions, to reasonably adjust the revenue from land value increment, and to safeguard the national interests.
Article 2 All entities and individuals receiving income from the transfer of state-owned land use rights, ground buildings and their attachments ( the "transfer of real estate") are taxpayers of the land value increment tax ( the "taxpayers") and shall pay the land value increment tax in accordance with the Regulations.
Article 3 Land value increment tax shall be assessed and collected based on the amount of increased value received by the taxpayers from the transfer of real estate and the tax rates prescribed in Article 7 of the Regulations.
Article 4 The increased amount is an amount of surplus between the income received by the taxpayers from the transfer of real estate and the sum of the deductible items prescribed in Article 6 of the Regulations.
Article 5 The income received by the taxpayers on the transfer of real estate includes monetary income, income in kind and other income.
Article 6 The deductible items in computing the amount of increased value include the following:
1.
......
Order of the State Council of the People's Republic of China No.588
January 8, 2011
(Promulgated by the Order of the State Council of the People's Republic of China No.138 on December 13, 1993 and revised under the Decision of the State Council on Repealing and Revising Certain Administrative Regulations on January 8, 2011)
Article 1 The Interim Regulations of the People's Republic of China on Land Value Increment Tax (the "Regulations") are formulated to regulate the order of the land and real estate market transactions, to reasonably adjust the revenue from land value increment, and to safeguard the national interests.
Article 2 All entities and individuals receiving income from the transfer of state-owned land use rights, ground buildings and their attachments ( the "transfer of real estate") are taxpayers of the land value increment tax ( the "taxpayers") and shall pay the land value increment tax in accordance with the Regulations.
Article 3 Land value increment tax shall be assessed and collected based on the amount of increased value received by the taxpayers from the transfer of real estate and the tax rates prescribed in Article 7 of the Regulations.
Article 4 The increased amount is an amount of surplus between the income received by the taxpayers from the transfer of real estate and the sum of the deductible items prescribed in Article 6 of the Regulations.
Article 5 The income received by the taxpayers on the transfer of real estate includes monetary income, income in kind and other income.
Article 6 The deductible items in computing the amount of increased value include the following:
1.
......