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CHINA PRESS
MNI (London)
CHINA PRESS: First-tier cities in China have moved to lower their additional VAT
rate on housing transactions by 50%, The Beijing News reported on Friday. This
policy may have little impact on the market overall, as it only reduces some
smaller taxes, not those major ones including VAT, deed tax and individual
income tax in the property market, the newspaper said citing Zhang Dawei, chief
analyst at Centaline Property Agency.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com