{"id":2361,"date":"2019-03-13T11:34:52","date_gmt":"2019-03-13T11:34:52","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=2361"},"modified":"2021-06-04T14:19:14","modified_gmt":"2021-06-04T07:19:14","slug":"this-chinese-city-is-relaxing-tax-rules-on-home-sales","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/this-chinese-city-is-relaxing-tax-rules-on-home-sales\/","title":{"rendered":"This Chinese city is relaxing tax rules on home sales"},"content":{"rendered":"
\"\"
Downtown Dongguan. VictorN\/Shutterstock<\/figcaption><\/figure>\n

Dongguan is now the latest among mainland Chinese cities relaxing its property curbs as the country grapples with slower economic growth.<\/p>\n

The city in Guangdong province now gives home owners more options in paying taxes on income made from selling residential property.<\/p>\n

Sellers in Dongguan can now choose to pay just two percent of the total transaction price in addition to the option of paying a 20 percent tax on the increase in price of their property,\u00a0Caixin Global<\/a>\u00a0reported.<\/p>\n

Homeowners stand to reduce their taxes dramatically under the new policy. For example, selling a property originally worth CNY1 million (USD150,000) for CNY2 million would translate to just CNY40,000 in taxes instead of CNY200,000.<\/p>\n

Levies on Chinese home sales largely depend on practices of local tax bureaus, even though both calculations have been made available nationwide by the State Administration of Taxation to house sellers since 2006.<\/p>\n

Prior to this policy change, Dongguan was one of the major cities in China that clung to stringent levies on home sales. Guangdong\u2019s provincial capital, Guangzhou, had earlier made similar changes on residential property taxation measures.<\/p>\n

This leaves\u00a0Beijing as one of a few holdouts in a wave of cities loosening property curbs to mitigate the weakening housing market.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dongguan follows other mainland markets, including neighbouring Guangzhou, in revising tax rules on property income<\/p>\n","protected":false},"author":2,"featured_media":19982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[],"class_list":["post-2361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","news_country-china","news_author-property-report"],"acf":[],"yoast_head":"\nThis Chinese city is relaxing tax rules on home sales | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/this-chinese-city-is-relaxing-tax-rules-on-home-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"This Chinese city is relaxing tax rules on home sales | Asia Property Awards\" \/>\n<meta property=\"og:description\" content=\"Dongguan follows other mainland markets, including neighbouring Guangzhou, in revising tax rules on property income\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.asiapropertyawards.com\/en\/this-chinese-city-is-relaxing-tax-rules-on-home-sales\/\" \/>\n<meta property=\"og:site_name\" content=\"Asia Property Awards\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/asiapropertyawards\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-13T11:34:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-04T07:19:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_309927656-compressor.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" 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