Provisional Regulations of the People's Republic of China on land appreciation tax.
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LEX-FAOC011944
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1
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The Regulations aim at standardizing the order of land and real estate market transactions, at reasonably adjusting the benefit from land appreciation and safeguarding the rights and interests of the State. According to article 2, all units and individuals receiving income form the transfer of state-owned land use rights, shall pay a land appreciation tax in accordance with these Regulations. Further provisions concern the following: (a) appreciation of the amount to be paid; (b) deductible items; (c) exemptions; (d) collection of the tax by tax authorities.
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