Land value added tax is a big cut of profits from property owners in China.
Land VAT is applicable basically in two scenario: (1) corporate property owners that sell properties, including foreign entities that hold China properties,and (2) individual owners of non-residential properties.
If the owner simply sells in the market for cash, then the land VAT …
It happens not only in China. There seem to be property scam all over the world, click here and here.
A recent case intrigues me a lot.
Facts: an old Shanghai lady who become an American citizen back in 1990s left her apartment in down town area of Shanghai to her niece for use and care. Recently when she came back to Shanghai, she found that her apartment was now owned…
Apparently China central government is seeing a clear uprise of property prices throughout the country.
Just today, China state council issued a new notice ordering its subordinate governments to implement seriously the existing policies that are aimed to rein in the property market, and meanwhile, stepping up a new measure of cooling policy, namely, enforcing…
News on ifeng.com had it that property prices in Wenzhou have seen a 40% drop off its peak prices in the year of 2010.
Wenzhou is a special place in China’s economic landscape boasting its big population of enterpreneurs in the city. The local affluence and fortunes have found easy expression in the local property prices that may easily dwarf or belittle…
In a leasing/occupancy dispute where I represent the owners (a couple whose names are both registered on the title deed of the property) of an apartment in Shanghai, trying to take back the apartment which had been leased out to a foreigner “tanant” by the owners’ friend who was once entrusted with the keys of the apartment.
In response to …
