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Chinese desperate about new property taxes

Posted By -NO AUTHOR- On 03/06/2013 @ 10:52 pm In Money,World | No Comments

(Reuters) At Shanghai’s Zhabei District marriage registration centre, officials divorced a record 53 couples in a single day this week – that’s about one every five minutes – as couples rushed to untie the knot to avoid tougher tax laws on home sales.

There were similar scenes in Wuhan, Nanjing and Ningbo as married couples opted for ‘quickie’, uncontested divorces – costing just a few yuan – that would allow them to split ownership of their properties and sell without having to pay capital gains tax of as much as 20%.


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