Hebei: Individual rental housing income tax approved at 5percent-10percent rent

category:Finance
 Hebei: Individual rental housing income tax approved at 5percent-10percent rent


Secondly, the rental income of rental (sublease) housing acquired by individuals in the form of one-time rent collection can be apportioned on an average monthly basis within the corresponding lease period by virtue of legal and effective lease contracts (agreements).

In principle, individual rental housing needs to pay more taxes, including value-added tax, real estate tax, personal income tax, urban maintenance and construction tax, etc. However, different provinces and municipalities will simply levy private rental tax at a lower comprehensive tax rate for individual rental housing. Regarding the background of introducing this policy, Hebei Tax Bureau explained that in order to further standardize the collection and management of personal income tax on individual rental housing, in accordance with the general requirements of the State Administration of Taxation on the implementation of the work of tax reduction and fee reduction, to promote the healthy development of the housing rental market in Hebei Province, and to create a good business. Environmental Science. The new regulations come into force on October 1, 2019. Industry insiders pointed out that individual rental housing should be taxed from the legal point of view, but the current market agreed by convention, the tax rate is very low, less than 1% of the national market. In this case, guiding taxation should be a long-term process. Source: Wang Xiaowu_NF, Responsible Editor of Peng Mei News

Regarding the background of introducing this policy, Hebei Tax Bureau explained that in order to further standardize the collection and management of personal income tax on individual rental housing, in accordance with the general requirements of the State Administration of Taxation on the implementation of the work of tax reduction and fee reduction, to promote the healthy development of the housing rental market in Hebei Province, and to create a good business. Environmental Science.

The new regulations come into force on October 1, 2019.