The Ministry of Finance, the State Taxation Administration, and the Ministry of Housing and Urban-Rural Development have issued the "Announcement on Tax Policies Related to Promoting the Stable and Healthy Development of the Real Estate Market," clarifying multiple tax incentives to support the development of the real estate market.

The announcement clearly states that efforts will be made to increase preferential tax policies in the housing transaction process, actively supporting the rigid and improved housing needs of residents; the lower limit of the land value-added tax prepayment rate will be reduced to alleviate the financial difficulties of real estate enterprises.

In terms of deed tax, the current area standard for enjoying the low tax rate of % has been increased from square meters to square meters, and it is clarified that Beijing, Shanghai, Guangzhou, and Shenzhen can uniformly apply the deed tax preferential policy for the second home of a family along with other regions. After the adjustment, nationwide, for individuals purchasing the only home of a family and the second home of a family, as long as the area does not exceed square meters, the deed tax is uniformly paid at a rate of %.

Regarding land value-added tax, the lower limit of the advance levy rate for land value-added tax in various regions will be uniformly reduced by . percentage points. Local authorities may adjust the actual advance levy rate based on local conditions.

In addition, clarify the value-added tax and land value-added tax preferential policies that align with the cancellation of the standards for ordinary and non-ordinary residential properties, reduce the cost of secondary housing transactions, and maintain stable tax burdens for real estate enterprises.

Regarding value-added tax, after the cancellation of the general residential standards in cities, individuals selling housing that has been purchased for more than one year (including one year) are exempt from value-added tax. The previous regulation that imposed value-added tax on individuals selling non-general housing that has been purchased for more than one year (including one year) in Beijing, Shanghai, Guangzhou, and Shenzhen has been correspondingly discontinued.

In terms of land appreciation tax, cities that have abolished the standards for ordinary and non-ordinary residential properties continue to implement the policy of exempting land appreciation tax for taxpayers who construct and sell ordinary standard residential properties with an appreciation amount not exceeding the deductible project amount percentage.