China – Property Taxes

• Property tax in China is based on the value of the property and is typically paid annually. The tax rate ranges from 0.1% to 0.6% depending on the location and type of property.

Capital Gains Tax (CGT)

• When selling a property in China, the seller is subject to CGT. The tax rate is 20% on the difference between the sale price and the original purchase price.

Inheritance Tax

• Inheritance tax in China is based on the value of the property and the relationship of the heir to the deceased. The tax rate ranges from 5% to 50%.

Gift Tax

• Gift tax in China is imposed on the transfer of property as a gift. The tax rate ranges from 5% to 20%, and is based on the value of the property and the relationship of the giver and receiver.

Tax on Property Income

• Income from renting out a property in China is subject to income tax. The tax rate ranges from 20% to 45%.

Tax Advantages

• There are tax advantages for buying a house in China. For example, the tax rate for CGT is lower for properties that are held for more than two years, and there may be exemptions or reductions for properties that are used as a primary residence. Additionally, individuals who are purchasing their first home may be eligible for a tax deduction on their mortgage interest payments.