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Guangdong to Impose Property Tax on Real Estate.
(From SinoCast China Business Daily News)
GUANGDONG, January 20, SinoCast -- On January 15, Liu Kun, the director of the Guangdong Provincial Department of Finance, revealed that Guangdong Province will start to impose property tax on real estate in 2004.
Property tax or land tax is a kind of tax imposed on real estate, such as land and houses. The leaseholder or owner of the real estate should pay a sum of money to the government. The amount of tax payable will increase along with the market value increase. For example, the market value of house and lands along with roads, subways will increase when the roads or subways are put into operation. So, the amount …
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