Shanghai announces property tax Collection management rules postpone payment of late fees

January 31, Shanghai announced the property tax levy management rules, clearly defined the personal property tax declaration process and payment methods.　　Taxpayers should report their taxes to the tax authorities before December 31 each year, and the overdue payment will receive five out of 10,000 late fees on a daily basis.　　According to the Shanghai Local Taxation Bureau on the city of Personal housing property tax Collection management related matters announcement, from January 28, 2011 onwards, all the new housing buyers in Shanghai, should be in the real estate registration before the home tax authorities to declare the property tax exemption procedures. Tax revenue from the taxpayer to obtain taxable housing property rights of the monthly calculation, annual levy, less than one year of monthly calculation of taxable amount. If the taxable housing is transferred, the original property owner shall pay the real estate tax which should be paid in the month before the registration of the property. (Zhou Wentian)