China to lower tax on property transactions
Published Fri, Feb 19, 2016 · 08:09 AM
[BEIJING] China will lower the tax on real estate transactions, the finance minstry said on Friday.
The change will be effective from Feb 22.
China has recently reduced the minimum down payment required for first- and second-time home buyers in most cities, a move aimed at clearing a housing glut that is weighing on the broader economy and discouraging new investment.
REUTERS
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