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China’s top cities lower some home transaction tax rate

China's top-tier cities recently lowered some transaction tax rate for home sales after several local governments' moves to loosen real estate controls, sparking stronger expectations for more policy relaxation in the sector.

Property agencies in Shanghai including Centaline Property said last week that they have been notified by the authority to lower some home transaction tax rates. The VAT additional tax rate on home purchases was lowered to 6 per cent from previous 11 per cent and stamp tax rate was reduced to 0.025 per cent from 0.05 per cent.

According to local property agencies, the . . .

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