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The deed tax is imposed on the land and houses the titles to which are transferred through such means as transfer, assignment, purchase or sale, gift or exchange, and shall be paid by the entities and individuals who are the transferees.
Where the land or houses are the subjects of the transfer, assignment, purchase or sale, the tax shall be calculated on the basis of the transaction price; where the land or houses are the subjects of gifts, the tax shall be assessed by the collection authority; where the land or houses are the subjects of exchanges, the tax shall be calculated on the basis of the difference between the exchange prices.
The tax rate is from 3% to 5%. The taxpayer shall file the tax returns within 10 days upon the occurrence of the tax payment obligation, and pay the tax within the time limit specified by the deed tax collection authority.
The taxpayers of Deed Tax are those enterprises, units, individual household businesses and other individuals who are the transferees of house property transferred within the territory of China.
The Deed Tax is normally based on one of followings:
Deed Tax adopts a flat rate within the range of 3%-5%. The rate applicable in jurisdictions at provincial level shall be determined within the above range by the government at the provincial level.
The formula for computing the tax payable is:
Tax payable = Tax base × Applicable rate
The Deed Tax exemptions may be granted on,