According to the provisions of the Interim Regulations of the People's Republic of China on Deed Tax, the following circumstances are eligible for reduced or exempted taxes: 1. State organs, public institutions, social organizations, and military units that acquire land and houses for use in office work, teaching, medical treatment, scientific research, and military facilities are exempt from tax, which is considered a golden location; 2. Urban workers who purchase public housing for the first time in accordance with regulations are exempt from tax; 3. For those who lose their housing due to force majeure and need to repurchase housing, the deed tax can be appropriately halved or exempted; 4. Other projects of reduced or exempted deed tax as specified by the Ministry of Finance.
The Notice on Adjusting Several Tax Policies in the Real Estate Market (CaiShui [1999] No. 210) has made new regulations regarding relevant taxes and fees in the real estate market: 1. Individuals purchasing self-used ordinary residences will temporarily have their deed tax halved. 2. Regarding the taxation of unsold commercial properties, in order to accelerate the turnover of housing funds and reduce the risks of financial assets, sales of accumulated unsold commercial properties before December 31, 2000, will enjoy tax exemptions for business tax and deed tax (limited to commercial properties built before June 30, 1998, and not yet sold). 3. According to the Detailed Rules for the Implementation of the Regulations of the People's Republic of China on Deed Tax, upon approval by the county-level or higher people's government, urban workers who purchase public housing for the first time and whose purchased area is within the standard area prescribed by the state can be exempted from deed tax. For areas exceeding the standard area prescribed by the state, taxes will be levied according to regulations.
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Office buildings - introduction
Currently, there are two popular evaluation standards in the office building market: Class A office buildings and 5A office buildings. So-called Class A office buildings are actually a common term without fixed standards because no one wants to be called Class B office buildings. Thus, almost any office building with glass facades, elevators, and tall structures calls itself a Class A office building. In comparison, 5A office buildings do have certain standards, similar to hotel star ratings.
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