Real estate costs made deductible

Pilot value-added tax reform to save more than 500b yuan for domestic enterprises

The taxation burden of China's enterprises is estimated to be eased by more than 500 billion yuan ($77.2 billion) after the wider implementation of a pilot value-added tax reform.

Four business sectors - construction, real estate, finance, and consumer service - will be included in the reform of business tax to value-added tax from May 1, according to decisions made on Friday during the executive meeting of the State Council, China's Cabinet.