Dear MEL School’s Topic Readers,
Beijing, Shanghai
divorces soar over property tax.
They seem to be
very sensitive to saving money, aren’t they?
The richer people become,
the more sensitive they are when it comes to saving taxes. The new riches in
China love to invest their fortune on residential properties, pushing the
prices in the market too high for ordinary workers especially in major cities.
Yet it is highly speculative, they still keep buying and owning apartments that
they have no plan to live in. And the both national and local governments are
trying to slow down such trend by imposing higher tax rate on married couples
who own three or more such properties.
How they reacted?
Divorce tentatively to avoid such property tax and remarry.
Enjoy reading and
learning about how responsive the rich could be to make and save money in
China.
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