Assistant Minister of Finance Song Qichao said at the press conference of the State Information Office on October 17 that the Ministry of Finance is currently studying and clearly abolishing tax policies linking ordinary housing to non-ordinary housing, which mainly includes value-added tax and land value-added tax. In terms of value-added tax, there is no distinction between ordinary residences and non-ordinary residences, with the exception of Guangshen in the north. Ordinary homes sold and purchased by individuals for more than two years are exempt from land value-added tax. Recently, we are making adjustments to the relevant tax policies. Specific policies are being implemented as soon as possible.

Assistant Minister of Finance Song Qichao said at the press conference of the State Information Office on October 17 that the Ministry of Finance is currently studying and clearly abolishing tax policies linking ordinary housing to non-ordinary housing, which mainly includes value-added tax and land value-added tax. In terms of value-added tax, there is no distinction between ordinary residences and non-ordinary residences, with the exception of Guangshen in the north. Ordinary homes sold and purchased by individuals for more than two years are exempt from land value-added tax. Recently, we are making adjustments to the relevant tax policies. Specific policies are being implemented as soon as possible.