State individuals to purchase less than 5 years hands full tax by income

 BEIJING, Jan. 26, Premier Wen Jiabao chaired a State Council 26 executive meeting, study and plan further work to do the real estate market regulation. It was noted that the transfer of housing to adjust individual business tax policy, for individuals to purchase housing resale transactions in less than 5 years, unified by the full sales tax.

meeting to determine, adjust and improve the relevant tax policy and strengthening tax administration. Adjusted for the transfer of the housing business tax policy, for individuals to purchase housing resale transactions in less than 5 years, unified by the full sales tax. Strengthen tax collection and management of land the supervision and inspection, focusing on the pricing significantly more than the price level of the surrounding real estate development projects, land clearing and value-added tax audit. Increase the application of real estate appraisal technology to enhance the work of tax collection   pilot and promotion efforts, firmly plug tax loopholes. Strictly enforce the individual income tax levy real estate transfer policy. To speed up the establishment and improvement over individual housing information system, provide the basis for the tax law.