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Claymore/AlphaShares China Real Estate Message Board

  • ben.franklin36 ben.franklin36 Jan 10, 2010 6:46 PM Flag

    China Tightens Markets

    BEIJING, Dec. 24 -- The Chinese government will resume a harsher property sales tax to curb speculation in the housing market from January 1 of next year, the Ministry of Finance announced Wednesday.

    Prompted by fears of a bubble in the housing market, the government is to extend the taxable period on home sales to five years from date of purchase.

    The government cut the period of the tax levy from five to two years in January to buoy home sales.

    The Chinese government will resume a harsher property sales tax to curb speculation in the housing market from January 1 of next year, the Ministry of Finance announced Wednesday.

    Prompted by fears of a bubble in the housing market, the government is to extend the taxable period on home sales to five years from date of purchase.

    The government cut the period of the tax levy from five to two years in January to buoy home sales.

 
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