Implementing Measures of Shenzhen Special Economic Zone for Housing Property Tax

Implementing Measures of Shenzhen Special Economic Zone for Housing Property Tax

Shen Fu [1987] No. 164

May 4, 1987

Article 1 These Measures are formulated in accordance with the Interim Regulations of the People's Republic of China on Housing Property Tax and based on the situation of Shenzhen Special Economic Zone (hereinafter referred to as Special Zone)

Article 2 All housing properties within the Special Zone shall be subject to housing property tax according to the provisions hereof.

Article 3 Housing property tax shall be paid by property owners. Where a property is owned by the whole people, the housing property tax shall be paid by the property management unit. Where the property is mortgaged, the housing property tax shall be paid by the mortgagee. Where neither the owner nor the mortgagee is in the place where the property is located, or where the ownership of the property has not been determined or the dispute concerning the lease or mortgage of the property has not been resolved, the housing property tax shall be paid by the managing agent or the user of the property.
The owner, management unit, mortgagee, managing agent or user enumerated in the preceding Paragraph shall be collectively referred to as persons obliged to pay tax (hereinafter referred to as taxpayers).

Article 4 Housing property tax shall be collected by tax authorities of the place where a housing property is located.

Article 5 Housing property tax shall be calculated and paid in light of seventy percent of the original value of a housing property.
The original value of the housing property shall refer to the original price of the house recorded by the taxpayer in the account "fixed assets"of the account book according to the provisions of financial and accounting rules.
In case the original value of a housing property is untrue or there is no original book value, the original value shall be determined by tax authorities of the place where the housing property is located by reference to like housing properties.
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