ADMINISTRATION COUNCIL ISSUES REGULATIONS FOR PROPERTY DEED TAX

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80-00809A000600320536-1
• Release Decision: RIPPUB
• Original Classification: C
• Document Page Count: 2
• Document Creation Date: December 22, 2016
• Document Release Date: August 9, 2011
• Sequence Number: 536
• Publication Date: June 29, 1950
• Content Type: REPORT

Sanitized Copy Approved for Release 2011/08/10: CIA-RDP80-00809A000600320536-1
CLASSWICA:(!ON C~'P L t'~~:A1 Bti ~8~ 1? I IAL
CENTRAL INTELLIGENCE AGENCY REPOR1j
INFORMATION FROM
FOREIGN DOCUMENTS OR RADIO BROADCASTS CD NO.
COUNTRY China
SUBJECT Economic; Political - Tax regulations
HOW
PUBLISHED Daily newspaper
WHERE
PUBLISHED Hong Kong
DATE
PUBLISHED 5 Apr 1950
LANGUAGE Chinese
THIS DOCUMENT CONTAINS INFORMATION AFFICTING THE C.TIONAL DEFENSE
OF THE UNITED STATES WITHIN THE MEANING OF ESPIONAGE ACT IO
V. 4. C.. SI AND SI. AS AMENDED. ITS TRANSMISSION OR THE REVELATION
OF ITS CONTENTS I" NANY MANNER TO AN UNAUTHORIZED PERSON IS PRO-
NIIITED NY LAW. REPRODUCTION OF THIS FORM 1E PROHIBITED.
DATE OF
INFORMATION 1950
DATE DIST. ;)P'-4 dun 1950
NO. OF PAGES 2
SUPPLEMENT TO
REPORT NO.
THIS IS UNEVALUATED INFORMATION
ADMINISTRATION COUNCIL ISSUES REGULATIONS
FOR PROPERTY DEED TAX
Peiping, 3 April (Hain-hua) -- The Administration Council of the Central
government of the People's Republic of China, at its 26th session, passed the
following regulations concerning the talc on property deeds.
1. The following regulations have been formulated to preserve the real
property rights of the people and to facilitate transfers of same.
2. These regulations shall apply in rural areas where land reform has
been completed but shall be universally applied in cities.
3. In all sales, mortgaging, gifts, or trading of real estate, the trans-
action should be in accord with the records, a mutual contract should be drawn,
and the receiver of the property should pay the deed tax in accordance with these
regulations.
4. The tax shall be collected by the hsien or municipal government or other
government unit of similar rank having jurisdiction.
5. The tax rate shall be as.follows:
a. Deed tax on purchased real estate -- 6 percent of the purchase price.
b. Mortgage tax -- 3 percent of the mortgage
c. Deed tax on real estate obtained by gift -- 6 percent of value
6. In: case a person or members of his family buys a piece of land on which
a mortgage has been held by t1at person, the amount already paid on the mortgage
may be deducted from the amount of tax due on the purchase deed.
7. In case of barter of real estate, if the two properties are of even
value, no tax is required. If there is a disparity of values, the tax will be
collected on the amount of the difference in value at the same rate as for a
sale, 6 percent.
M IFIDENT1A1
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All f I WEN I I A
8. In case of any of the kinds of deals mentioabvehbetween aogovern-
ment agency and private individuals, the same tax procedure
9. In cases where real estate that has been held jointly is divided, the
old deed and the division agreement shall be submitted together for examination
and approval, after which new deeds shall be prepared. On the new deeds there
shall be no tax. A documentary and service fee will be charged.
1p. In case of
report shall loss upon whereupon the auth-
shall call together the owners of the adjoining property to testify
orities paid,
to the truth of the matter, after which a new deed may be issued without tax.
A documentary and service fee will be charged.
11. Deed taxes should be paid within 3 months of the date of the trans-
action. Those paying after 3 months shall pay a fine of 20 percent of the
original amount of the tax for each month of delinquency.
12. Those who report the price involved in a transaction ate essatd nat the
500 secure
thedamand ountof pay the original taxi
from required
percent new
200 P to to
andeshall be
deficit.
13. Any person having bought, mortgaged, received by legacy, or exchanged
property, who reports the deal as division of property or under some other cat-
egory with a view to avoiding the deed tax payment, or any person who deliber-
ately fails to report a transaction with a view to concealment, must secure a
new correct deed, pay the tax due, and shall be subject to a fine of from six
to ten times the amount of the tax itself.
11E. Any person who devises false documents to unlawfully take possession
of another's real estate, or who under an assumed name registers as his own
and pays the deed tax of property of an enemy of the state that should be con-
fiscated, shall, upon discovery, have the tax he has paid confiscated and shall
be prosecuted in the courts.
15. The detailed application of these regulations shall be carried out by
the authorities concerned on all levels according to the immediate circumstances.
They shall also report to the Ministry of Finance of the Central People's govern-
ment for record.
16. These regulations shall be in effect from date of publication.
CONFIDENTIA1,
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