In a notice that was published on the State Administration of Taxation (SAT) website last week, the SAT and Ministry of Commerce (MOFCOM) have continued to relieve taxes in certain circumstances with respect to universities. Caishui 155 provides as follows:
- That apartments owned by universities for student accomodation will not be subject to property taxes;
- That lease agreements signed by universities and their students in respect of student accomodation will not be subject to stamp duty;
- Fees charged to students for student accomodation will not be subject to sales tax;
- No sales tax will be imposed upon university dining facilities.
Hwuason is supportive of this continuing concession for the education sector.