China's Ministry of Finance has published Circular 57/2018, which extends the exemption from land value appreciation tax on immovable property transfers as part of qualifying corporate restructuring to 31 December 2020. Land value appreciation tax is a deductible tax on gains realized from the transfer of immovable property ranging from 30% to 60% of the gain. Subject to certain conditions, the exemption is provided in the following cases:
- An enterprise restructuring, including where an uni…