Second-hand sales tax concession period restored to 5 years

The State Council executive meeting held yesterday that the personal housing transfer business tax exemption period from 2 years to 5 years, other housing consumption policies continue to implement.　　This means that the Government, on the one hand, supports the people living in housing and improving sexual demand, while curbing speculative buying. Housing Urban and Rural construction department director Shen Jianjong said: "Business tax levy free time to return to 5 years, mainly to curb speculative buying, the most important thing is to increase the cost of short-term speculation."　　"At the end of 2008, in response to the financial crisis of the severe impact on our economy, especially the real estate market downturn, the State Council adjusted the personal housing transfer business tax levy free time, from 5 years to 2 years."　　At present, China's real estate market has come out of the doldrums, some cities, housing prices faster, speculative housing is to promote the rise in the price of the important factors. At the end of November this year, Premier Wen Jiabao, in Shanghai, said that the construction of affordable housing should be placed in an important position in the development of real estate industry, with strong support in the areas of finance, finance and land policy, so as to make the city's low-income earners live and work.　　At the same time, to curb speculative housing, promote the healthy development of the real estate industry. Zhu Zhengyi, vice president of China's Real Estate industry association, said: "We understand that prices rise fast in the region, more speculative elements, business tax policy adjustment, can play an extrusion effect on the house, so as to ease the supply and demand relationship, help to stabilize the price."　　"At the National Development and Reform conference held on 9th, Zhang Ping, director of the National Development and Reform Commission, said that next year China will improve its housing consumption and regulatory policies, increase the supply of low-cost and price-limit commercial housing, and curb speculative buying." As for the other housing consumption policies put forward by the State Council's executive meeting, Shen Jianjong said: "This shows that the government supports the residents ' living and improving the demand for home purchase, and the policy has no effect on the living and improving sexual demand." Lio Yingmin, a researcher at the Development Research Center of the State Council, said: "People have been worried about their own housing and improve the demand for housing policies have changed, the government made clear that it is tantamount to a home and improve the needs of the people to buy a reassuring." "Zhu Zhengyi said:" Other housing consumption policies, coupled with the suppression of speculative demand, so that can truly meet the general public to live and improve the demand for property. Experts interviewed said that increasing the supply of ordinary commodity housing, supporting the residents to live and improve the demand for property, help to expand consumer demand and increase consumption of economic growth.　　(Xinhua) National Development and Reform Commission: increase the supply of medium-low and price-limit commercial housing according to Xinhua news agency, director of the National Development and Reform Commission, Zhang Ping, 9th in the National Development and Reform conference, said that next year, China will improve housing consumption and regulatory policies, increase the supply of low-priced and limit commercial housing, curb speculative buying. Zhang Ping, referring to further expansion of consumer space next year, said that the country will promote consumer demand for sustained and rapid growth, enhance the residents, especially low-income groups, the consumption capacity, and further expand consumer space.The development and Reform Commission, in conjunction with relevant departments, will continue to improve fiscal and financial policies to encourage consumption, and continue to implement preferential policies to encourage household appliances, automobiles, agricultural machinery and energy-saving products, and to improve housing consumption and regulatory policies. In recent years has undergone many adjustments in 2005, in order to regulate the continuous hot real estate market, the State administration of taxation issued, since June 1, 2005, for individuals to buy less than 2 years of trading transactions, sales by the total income from the sale of the house revenue; personal purchase of ordinary housing for more than 2 years (including 2 years) traded　　, the sale is exempt from the sales tax, the individual purchase of the ordinary housing for more than 2 years (including 2 years) turnover transactions, sales in accordance with their house income minus the purchase price of housing after the difference levied business tax.　　2006, in order to curb real estate speculation, reduce the housing bubble, the State administration of taxation issued again, from the year of June 1, individuals buy less than 5 years of housing sales, to levy a full business tax. But this policy on the curb the role of speculation is limited, the 2007-year property market is still ushered in a year of hurricane.　　In the excessive overdraft of the purchasing power of the property market in 2008, the national property market plunged into a low ebb, coupled with the global financial crisis, the central and local governments have issued a rescue policy. December 18, 2008, the Ministry of Finance and the State Administration of taxation jointly launched the "Personal housing transfer business Tax policy notice" (tax (2008)174 number), the document stipulates, "from January 1, 2009 to December 31, individuals will buy less than 2 years of non-ordinary housing sales, The full levy of the business tax, the individual will purchase more than 2 years (including 2 years) of the non-ordinary housing or less than 2 years of ordinary housing sales, levy a business tax in accordance with its sales income minus the difference after the purchase price of the house; Individuals will purchase more than 2 years (including 2 years) of ordinary housing sales, exempt from business tax. And yesterday, the State Council said that the exemption of business tax will be restored from 2 years to 5 years, showing that the government is highly concerned about the current property market overheating. Mazoupo Liu Lu Yan related information 2008 the state issued a partial purchase preferential policies, stamp duty, land value-added tax October 22, 2008, the Ministry of Finance, the State administration of taxation issued "on the adjustment of real estate transaction links Tax policy Notice" 1, the first person to buy 90 square meters and the following ordinary housing, The tax rate was temporarily lowered to 1%.　　(original ratio 1.5%) 2, the personal sale or purchase of housing temporarily exempt from levy stamp duty.　　(original ratio 0.05%) 3, the individual sale of housing temporarily exempt from the levy of land value-added tax.　　(original ratio 1%) Implementation date: November 1, 2008 business tax personal purchase more than 2 years (including 2 years) of ordinary housing sales, exempt from business tax.　　(original ratio 5.5%) Implementation date: January 1, 2009 loan interest rate the lower limit of commercial personal housing loan interest rate is enlarged to 0.7 times times of the loan base rate; minimum down paymentThe proportion of the section adjusted to 20%. Implementation date: October 27, 2008