According to the latest tax data released by the State Administration of Taxation, since this year, the tax authorities have implemented detailed various preferential tax policies to support urban renewal, with a cumulative total of 487 billion yuan in tax cuts and tax refunds in the first half of the year. According to classification, in the first half of the year, public rental housing was exempted from value-added tax and contract tax; policies related to supporting the needs of the public, such as personal income tax concessions relating to the purchase of housing for residents, continued to be implemented, and tax cuts and tax refunds amounted to 209.8 billion yuan.

According to the latest tax data released by the State Administration of Taxation, since this year, the tax authorities have implemented detailed various preferential tax policies to support urban renewal, with a cumulative total of 487 billion yuan in tax cuts and tax refunds in the first half of the year. According to classification, in the first half of the year, public rental housing was exempted from value-added tax and contract tax; policies related to supporting the needs of the public, such as personal income tax concessions relating to the purchase of housing for residents, continued to be implemented, and tax cuts and tax refunds amounted to 209.8 billion yuan.