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Legal update
Shanghai Continues to Implement the Adjusted Property Tax Deduction Ratio
Pubdate：2023.12.31
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On December 20, 2023, the Shanghai Municipal Government website published the Notice on Continuing Implementation of the Adjusted Property Tax Reduction Ratio of the Original Value of Property (the “Notice”).
The Notice clarifies that after evaluation, Shanghai continues to implement the adjusted property tax deduction ratio of the original value of the property. That is, for taxpayers in this city who pay property tax based on the residual value of the property, the deduction ratio of the original property value will be adjusted to 30%.
