Short answer: Taxes when selling a condo include transfer fees, withholding tax, and possibly specific business tax or stamp duty. Withholding tax is either 1% of the appraised value (for companies) or based on a sliding scale tied to the seller’s income (for individuals).
Taxes when selling a condo include transfer fees, withholding tax, and possibly specific business tax or stamp duty. Withholding tax is either 1% of the appraised value (for companies) or based on a sliding scale tied to the seller’s income (for individuals). Specific business tax is 3.3% if the property is sold within five years, unless it was the seller’s primary residence and they were registered there for at least a year. If SBT doesn’t apply, stamp duty of 0.5% is charged instead. Taxes are usually paid by the seller, but this can be negotiated.