Land Value Added Tax
Corporations and persons (hereinafter referred to as taxpayers) shall pay Land Value Added Taxes on their incomes which are derived from transference of use rights of State-owned land and property rights of buildings and attached installations thereon (hereinafter referred to as real estate transference). The remainder (added value) of the taxpayers' gains from the real estate transference after deduction of stipulated deductible amounts shall be subject to land value added tax at the applicable tax rate.
Tax Base and Tax Rate
Land value added taxes shall be levied at four progressive levels:
| Schedule of Land Value Added Tax Rate | |||
|---|---|---|---|
| Level | Basis of Assessment | Applicable Tax Rate | Adjustment |
| 1 | That part of the added value which does not exceed 50% of the amount of deducted item | 30% | 0 |
| 2 | That part of the added value which does not exceed 50% but is less than 100% of the amount of deducted item | 40% | 5% |
| 3 | That part of the added value which is greater than 100% but less than 200% of the amount of deducted item | 50% | 15% |
| 4 | That part of the added value which exceeds 200% of the amount of deducted item | 60% | 35% |
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