Shanghai and Chongqing pioneering Property Tax on a Trial Basis

Shanghai and Chongqing pioneering Property Tax on...

China alert - Issue 6, February 2011

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Shanghai and Chongqing pioneering Property Tax on a Trial Basis

Shanghai and Chongqing have started levying property taxes on individual residential properties on a trial basis on 28 January 2011, aiming to curb speculative investment and cool down local housing markets. With exceptions for detached residential properties in Chongqing, the long-awaited trial policies in both cities will generally only apply to newly purchased residential properties.

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