What Taxes Are Required for the Sale and Purchase of Used Parking Spaces?
1 Answers
Used parking spaces fall under non-residential property transactions. The buyer is required to pay a 3% deed tax and stamp duty, while the seller is responsible for business tax and surcharges, individual income tax, land value-added tax, and stamp duty. Below is a brief overview of the taxes for both parties: 1. Buyer: Since parking spaces are classified as non-residential properties, the buyer must pay a 3% deed tax and a per-square-meter transaction service fee during the transfer process. 2. Seller: The seller is obligated to pay business tax and surcharges (5.6% of the price difference), individual income tax (20% of the price difference), land value-added tax (30% of the price difference), stamp duty (0.05% of the total amount), and a per-square-meter transaction service fee as per regulations.