Ministry of Finance: Continue implementing tax preferential policies for public rental housing.

During the construction period of public rental housing and after the completion of public rental housing occupying land, urban land use tax shall be exempted. In other housing projects, if public rental housing is built as part of the project, the urban land use tax related to the construction and management of public rental housing shall be exempted in proportion to the floor area of the public rental housing compared to the total floor area. The construction and management units of public rental housing are exempt from stamp duty. In other housing projects, if public rental housing is built as part of the project, the stamp duty related to the construction and management of public rental housing shall be exempted in proportion to the floor area of the public rental housing compared to the total floor area. The purchase of housing as public rental housing by the operators of public rental housing is exempt from deed tax and stamp duty; both parties in the public rental housing lease are exempt from stamp duty related to the lease agreement. If enterprises, institutions, social organizations, or other organizations transfer old houses as a source of public rental housing, and the added value does not exceed 20% of the deduction project amount, land value added tax shall be exempted. Enterprises, institutions, social organizations, and other organizations donating housing as public rental housing shall be allowed to deduct the portion within 12% of the annual profit total as public welfare donation expenses when calculating the taxable income, and the portion exceeding 12% of the annual profit total shall be allowed to be carried forward for deduction in the next three years when calculating the taxable income. Individuals donating housing as public rental housing shall be allowed to deduct the portion of public welfare donation expenses within 30% of their declared taxable income in accordance with tax laws and regulations. The housing rental subsidy received by urban housing guarantee families from the local government is exempt from personal income tax. Public rental housing is exempt from property tax. Rental income obtained from operating public rental housing is exempt from value-added tax. Operators of public rental housing should separately account for rental income from public rental housing; if not separately accounted for, they shall not be eligible for the tax exemption policies for value-added tax and property tax.