The Beijing Municipal Commission of Housing and Urban-Rural Development has issued a notice announcing that the standards for ordinary and non-ordinary housing in the city will be abolished, effective December.
The notice specified that after the abolition of these standards, individuals selling homes purchased for over two years will be exempt from value-added tax (VAT). For homes purchased for less than two years, individuals will pay the full VAT at a rate of 5 percent.
Regarding the deed tax for individual housing purchases, Beijing will apply the same preferential policy as the rest of the country. For individuals purchasing their only family home with an area of 140 square meters or less, the deed tax will be levied at a reduced rate of one percent. For homes over 140 sq m, the deed tax will be levied at a reduced rate of 1.5 percent. For individuals purchasing a second home, the deed tax will be levied at a reduced rate of one percent for homes with an area of 140 sq m or less, and at a reduced rate of 2 percent for homes with an area of over 140 sq m.
The notice also clarified that for sales and purchases of housing involving VAT and deed tax that have not been declared and paid by Dec 1, individuals meeting the relevant regulations can apply for execution.
18日，上海市住建委发布关于取消普通住房标准有关事项的通知：
明确取消普通住房和非普通住房标准；
明确取消标准后相关个人住房交易税收事项。
通知自2024年12月1日起施行。
China's economic hub Shanghai introduced preferential taxation measures including unifying housing standards and cutting home transaction tax to actively support people's housing demand on Monday.
Taking effect from Dec 1, the former 2 percent transaction tax imposed on non-ordinary housing projects will be canceled and the standard of identifying ordinary or non-ordinary housing will be unified, said the notification published on Monday.
其他个人所得税方面的政策未作调整，如对个人转让自用5年以上，并且是家庭唯一生活用房取得的所得，免征个人所得税；
居民换购住房有关个人所得税政策仍按照国家相关文件继续执行。
个人将购买2年以上（含2年）的住房对外销售的，免征增值税。
The value-added tax is exempt for all residential apartments as long as the properties are kept by the home sellers for two years or longer.
个人将购买不足2年的住房对外销售的，按照5%的征收率全额缴纳增值税。
对个人购买家庭唯一住房（家庭成员范围包括购房人、配偶以及未成年子女，下同），面积为140平方米及以下的，减按1%的税率征收契税；面积为140平方米以上的，减按1.5%的税率征收契税。
In line with the nationwide measures, a favorable one percent deed tax was extended to apartments sized at or below 140 sq m against the previous requirement of 90 sq m or below for both first homes and second homes, the notice added.
对个人购买家庭第二套住房，面积为140平方米及以下的，减按1%的税率征收契税；面积为140平方米以上的，减按2%的税率征收契税。
来源：人民日报客户端 央视新闻 中国日报网
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