Economy

Shenzhen to collect home-sales tax

(China Daily)
Updated: 2011-06-11 10:32

Shenzhen will impose a transaction tax on existing home sales based on a reference price determined by market conditions, the city's taxation administration said in a statement on its website.

The measure will be implemented if the contract prices of the homes are too low without reasonable explanation, the statement said. The measure will begin on July 11.

Agencies