A boom in the real estate business, in the first five months of the year, in Hebei province, contributed a major part of its taxes, and continued growth is expected in the second half. Taxes from the property sector reached 18.4 billion yuan for the first five months, an increase of 17.11 percent year-on-year. That accounted for 27.95 percent of the total tax in the province, the largest percentage among all of the industries, according to provincial tax bureau statistics.
Tax bureau officials predict that taxes from this major industry will see continued growth for the rest of this year, the increase in property values responsible for much of that. The censor on the land value increment tax, the biggest-ever one in the province over the years, is in progress, expected last to the end of October. The tax authorities are also taking a closer look at real estate companies. |
