China Rises Capital Gains Tax On Used Home Transactions

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People crowd into the Nanjing Municipal Real Estate Trading Centre... News PhotoBestof,Business,Business Finance and Industry,Civilian,Crowd,Economy,Finance,Finance and Economy,Horizontal,Looking,Nanjing,People,Photography,Selling,Strategy,Tax,Topics,Topix,WenzhouPhotographer Collection: Visual China Group 2013 Visual China GroupNANJING, CHINA - MARCH 04: (CHINA OUT) People crowd into the Nanjing Municipal Real Estate Trading Centre looking to sell property ahead of a tax policy change on March 4, 2013 in Nanjing, China. According to an online statement from the China's State Council last Friday, China will rise the capital gains tax on home sales, potentially levying sellers with a tax as high as 20 percent a signifucant increase on the current 1 percent to 2 percent. Excessive real estate speculation and a 'housing bubble' is seen as risk to the nation's overall economic stability. (Photo by VCG/Getty Images)