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20pct capital gains tax on mainland properties sparks stampede

Posted on 06 March 2013

The reintroduction of a 20 per cent capital gains tax on the sale of property on the mainland by the State Council last Friday triggered a stampede by home sellers and agents to register their sales with government agencies before the tax becomes effective.
Real estate exchange centres in Beijing, Shanghai, Nanjing, and Wuhan were packed with property sellers and agents over the weekend, forcing some of them to extend their opening hours until 9 pm, from 5pm on normal days………………………………………..Full Article: Source


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