The adjustment of the minimum urban land use tax in 13 places has been accomplished, and it is expected to cut over 1.5 billion yuan for the whole year, according to Jiangsu Department of Finance, May 7, 2019.
Issued by Jiangsu government at the end of last year, the Policies to Promote High-quality Development of Real Economy by Further Reducing the Burden of Enterprises pointed out to appropriately cut the minimum tax per square meter for town land use: cutting from 3 yuan to 1.5 yuan in big cities; 3 yuan to 1.2 yuan in medium-sized cities; 2 yuan to 0.9 yuan in small cities; 2 yuan to 0.6 yuan in counties, administrative towns, and industrial and mining areas.
Jiangsu Department of Finance and Jiangsu Tax Bureau will deploy the tax adjustment of the whole province, request financial and tax departments at all levels to strengthen cooperation, formulate work plans, carry out research and calculation. They will also put forward tax adjustment plans according to the local reality and authorized them to the provincial department of finance and the provincial tax bureau with approval of the district government. At present, 13 cities and towns in Jiangsu have accomplished adjustments of lowering the minimum land use tax.
