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MNI BRIEF: China Cuts Tax To Boost Property Sales

MNI (BEIJING)

China’s Ministry of Finance (MoF) announced on Friday authorities will refund personal income tax paid on property sales if residents sell property and buy a higher value home within one year.

Residents have from January 2024 until December 2025 to access the scheme and will only benefit if the property sold and purchased are in the same city.

Policy experts recently told MNI the government is likely to aid the property sector through broad stimulus to boost home sales, rather than by bailouts for property developers. (See MNI:China Seen Boosting Property Market, Not Bailing Out Firms - Bonds & Currency News | Market News)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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