2014-07-29 14:32:32

The head of the Ministry of Finance said house and land are combined to calculate transferring or selling price and after subtracting the buying cost and related costs, it is taxed according to the actual transaction price of the land and house combined. Real estate is very sensitive to taxes. If this real estate taxing based on actual transaction price is in effect, there will be a rush to sell properties before the law is in effect, which will impact the real estate market more than when the luxury tax was implemented. Combined house and land tax is a trend, which will cause people who want to purchase properties to observe from the sidelines and a decline in real estate transaction volume.