Shanghai and Chongqing pioneering Property Tax on a Trial Basis
Shanghai and Chongqing pioneering Property Tax on...
China alert - Issue 6, February 2011
Shanghai and Chongqing have started levying property taxes on individual residential properties on a trial basis on 28 January 2011, aiming to curb speculative investment and cool down local housing markets. With exceptions for detached residential properties in Chongqing, the long-awaited trial policies in both cities will generally only apply to newly purchased residential properties.