Revenue from Five Major Real Estate Taxes Has Soared

(Beijing) – The combined revenue of five major taxes that are levied only on the real estate industry rose more than eleven-fold from 2003 to 2012, official statistics show.

Data from the Ministry of Finance and State Administration of Taxation show the figure rose from more than 90 billion yuan in 2003 to 1.01 trillion yuan last year.

These taxes are on property, urban-town land use, land value-added, arable land occupation and property ownership transfers.