What Taxes Are Required When Buying a Used Parking Space?

[TuckerRose]

Purchasing a used parking space involves the following tax types: The transaction of a used parking space is classified as a non-residential property transaction. The buyer is required to pay a 3% deed tax and stamp duty. Additional information: The seller needs to pay business tax and surcharges, individual income tax, land value-added tax, and stamp duty. Here, the seller's tax payment is divided into two scenarios: 1. If the seller provides the original purchase invoice: Business tax and surcharges: 5.6% of the difference between the transfer income and the purchase price. Individual income tax: 20% of the difference in transfer income. Land value-added tax: 30%-60% of the price difference (four-level progressive tax rate). 2. If the seller does not provide the original purchase invoice: Business tax and surcharges: 5.6% of the full transfer income. Individual income tax: 2% of the assessed transfer income. Land value-added tax: 5% of the assessed transfer income. Stamp duty: Both the buyer and seller are required to pay 0.05% of the transaction price.