China's Ministry of Finance has published Circular 17 of 2 March 2018, which extends the exemption from deed tax on immovable property involved in qualifying corporate restructuring to 31 December 2020. Deed tax is a transfer tax of 3% to 5% on the transfer of land or buildings.
The deed tax exemption is provided in several different cases subject to certain conditions, including:
- An enterprise restructuring, including where an unincorporated enterprise is transformed into a limited liabil…