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Brief
On "14/11/2024", the Ministry of Industry and Information Technology (MIIT) issued an update regarding New tax policy for the real estate market. The Ministry's announcement outlines adjustments to tax policies aimed at promoting a stable and healthy development of the housing market. The updated policy includes measures such as increased tax incentives for residents buying homes, reduced land value-added tax rates, and clearer guidelines for handling property transactions. Tax authorities will implement various measures to facilitate taxpayer access to these benefits.
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