Tools: Save | Print | E-mail | Most Read
China Raises Tax Rates on Urban Land Use
Adjust font size:

The Chinese government has decided to raise tax rates on urban land use by two times from those set in 1988 in a bid to rein in the excessive development of urban land.


Premier Wen Jiabao signed an order of the State Council on Sunday to revise the provisional regulations on taxes on urban land use issued in 1988.


The increased tax rates will be applied to domestic businesses, foreign-funded enterprises in China and foreign companies.


China's economy grew 10.7 percent in the first three quarters this year, with fixed assets investment surging 27.3 percent.


The government believes checking excessive growth of credit and land supply could be an effective way of cooling the economy.


Measures have been taken to tighten land supply in the second half of the year, including higher taxes on urban land use and stripping local governments of their authority to spend the money from land sales.


(Xinhua News Agency January 2, 2007)


Tools: Save | Print | E-mail | Most Read

Related Stories
China's Tax Revenue Hits New High
Urban Land Use Taxes Raised for All
Property Law Aims to Remove Unequal Protection
UNESCO Cultural Diversity Convention Ratified
Over 1,000 Fees Cancelled to Smooth Path of Taxi Drivers
New Duty Levied on Luxuries

Product Directory
China Search
Country Search
Hot Buys
SiteMap | About Us | RSS | Newsletter | Feedback
Copyright © All Rights Reserved     E-mail: Tel: 86-10-88828000 京ICP证 040089号