China's Ministry of Finance and State Administration of Taxation have jointly issued Announcement No. 49 of 2023, which extends the exemption from deed tax on immovable property involved in qualifying corporate restructuring. Deed tax is a transfer tax imposed on the transfer of land (use rights) or buildings, with rates generally ranging from 3% to 5% depending on the province. Previously extended to 31 December 2023, the exemption is extended by Announcement No. 17 of 2021 for the period 1…