Do I have to pay taxes on inheriting my parents property?

There is no need to pay taxes on inheriting the parents' property, because there is no law in China that explicitly requires you to pay taxes on the property after inheriting the parents' property. Further, according to Article 1 of the Interpretation and Provisions of the Ministry of Finance on Deed Tax (1954), it is mentioned that if there is an inheritance, the registration and transfer of property rights shall not be subject to deed tax.

This means that inheritance is not taxable. In addition, Article 1 of the Provisional Regulations on Deed Tax stipulates that taxpayers shall pay deed tax in accordance with the provisions of the Regulations. Article 2 stipulates that the acts that require the payment of deed tax include:

transfer of state-owned land use rights; transfer of land use rights; Buying and selling houses; house gifts; Housing exchange. It can be seen that inheriting the real estate of the parents does not fall within the scope of the deed tax.

Interpretation and Regulations of the Ministry of Finance of the People's Republic of China on Several Issues in Deed Tax Work (1954).

1) Regarding the deed tax of gifts and inheritances, the provisions are as follows:

1. Immediate family members or brothers and sisters who live in a cohabiting family and live in interdependence shall not be regarded as an increase in real estate due to the analysis of real estate due to separation, and no deed tax shall be levied. For example, if there is a sale, pawn, gift or non-equivalent exchange of real estate between them after the analysis of the separation, the deed tax shall be levied according to the deed tax, but after the analysis, if the inheritance occurs, the registration and transfer of the property rights shall not be subject to deed tax.

2 The transfer of real estate between husband and wife or the transfer of real estate due to divorce shall not be regarded as a gift and shall not be subject to deed tax.

3. If the owner of the real estate makes a will to donate the real estate to the non-legal heirs (those who have a dependency relationship should be regarded as the legal heirs), it is a gift and the deed tax shall be levied as the gift.

Provisional Regulations of the People's Republic of China on Deed Tax (2019 Amendment).

Article 1 Units and individuals who transfer the ownership of land and houses within the territory of the People's Republic of China are taxpayers of deed tax and shall pay deed tax in accordance with the provisions of these Regulations.

Article 2 The term "transfer of land and housing ownership" as used in these Regulations refers to the following acts:

1) the transfer of the right to use state-owned land;

2) Transfer of land use rights, including **, gift and exchange;

3) Housing sales;

4) Housing donation;

5) Housing exchange.

The transfer of land use rights in item (2) of the preceding paragraph does not include the transfer of rural collective land contracting and management rights.

If required, pay the deed tax and stamp duty on the house price. Properties that are less than five years old are subject to business tax (exempt for five years) and 20% personal income tax (20% of profits or 1% of house price).

There are two types of inheritance, one is statutory succession and the other is testamentary succession. Statutory inheritance is the passing and distribution of houses in the order of inheritance without a will. If there are two children, but the elderly only want to give the house to one of them, then it is necessary to make a will in advance to designate who will be the heir.

The fees involved in inheritance are mainly house appraisal fees and inheritance notary fees. The house appraisal fee is generally 5% of the appraised price of the house, but at least $1,000 is charged for each case. Generally, the appraisal price will be about 30% lower than the market price.

Therefore, for a house with a market price of 5 million, the appraisal fee is about 10,000.

The inheritance notary fee is implemented according to the gradient of the appraisal price, and the part of the benefit amount below 200,000 yuan shall not be charged; The part exceeding 200,000 yuan but less than 500,000 yuan will be charged at no more than 1%; The part exceeding 500,000 yuan but less than 5 million yuan shall be charged as not exceeding the amount; The part exceeding 5 million yuan but less than 10 million yuan shall be charged as not exceeding the amount; The part exceeding 10 million yuan shall be charged as not exceeding the amount.

You need to pay 1% tax, this tax is the real estate center to list the house online for appraisal, if the appraisal is 100,000 yuan, then you will pay 1,000 yuan in tax.

Legal analysis: children need to pay taxes when they inherit their parents' real estate, and pay the deed tax and stamp duty on the house price. Properties that are less than five years old are subject to business tax (exempted for five years) and 20% of personal income tax (20% of profits or 1% of house prices) must be paid.

Legal basis: Article 1120 Hengmeng Article of the Civil Code of the People's Republic of China After the commencement of inheritance, it shall be handled in accordance with the statutory inheritance; If there is a will, it shall be handled in accordance with the testamentary inheritance or bequest; Where there is a bequest and maintenance agreement, it shall be handled in accordance with the agreement.

Taxes apply. According to the relevant tax regulations of China, if the owner of the house dies, his testamentary heirs, legal heirs or legatees inherit the property, they need to pay stamp duty. Because the ownership of the house is obtained through inheritance, the heir does not need to pay personal income tax, value-added tax, land value-added tax, deed tax, etc., and the decedent does not need to pay the aforementioned taxes.

However, the heirs need to pay stamp duty, which is rated at 5/10,000. If the inherited property is transferred again, it is not eligible for the above-mentioned tax exemption policy.

[Legal basis].

Announcement of the Ministry of Finance and the State Administration of Taxation on the Application of Individual Income Tax Taxable Income Items to Relevant Income Obtained by Individuals》 Article 2 If the owner of the house property right donates the property right to others free of charge, the donee shall calculate and pay the individual income tax according to the item of "accidental income" for the donated income obtained by the donated house free of charge. In accordance with Article 1 of the Notice of the Ministry of Finance and the State Administration of Taxation on Individual Income Tax Issues Concerning Houses Donated by Individuals Free of Charge (CS 2009 No. 78), no individual income tax shall be levied on both parties if the following circumstances are met: (1) the owner of the house property right will donate the property right to his spouse, parents, children, grandparents, grandchildren, grandchildren, brothers and sisters free of charge; (2) The owner of the property right of the house gives the property right of the house free of charge to the person who bears the obligation of direct support or support; (3) The legal heirs, testamentary heirs or legatees who have obtained the property rights of the house in accordance with the law after the death of the owner of the property rights.

The taxable income of the donated income referred to in the preceding paragraph shall be calculated in accordance with Article 4 of the Notice of the Ministry of Finance and the State Administration of Taxation on Individual Income Tax Issues Concerning Donated Housing by Individuals Free of Charge (CS 2009 No. 78).

Question: Inherit your parents' property.

Answer: In addition to stamp duty, there is generally no need to pay other taxes, 1. Children inherit the inheritance of their parents, including personal legal property and other legal property rights and interests left by their parents when they die. Inheritance tax is not stipulated in our law. 2. However, the inheritance of immovable property involves registration and notarization.

Specifically, the transfer is subject to a deed tax of 1%-3% according to the standard. However, there is no deed tax on statutory inheritance. In the case of notarization, a notary fee of 2% of the inherited area should be paid.

You need to pay taxes.

Article 6 of the Deed Tax Law of the People's Republic of China shall be exempted from deed tax under any of the following circumstances: (1) State organs, public institutions, social organizations and military units shall inherit the ownership of land and houses for office, teaching, medical treatment, scientific research and military facilities; (2) Non-profit schools, medical establishments, and social welfare organizations that receive land and housing ownership for office, teaching, medical care, scientific research, pension, or assistance; (3) Inherit the right to use barren mountains, wastelands, and barren beaches for agriculture, forestry, animal husbandry, and fishery production; (4) Changing the ownership of land or houses between husband and wife during the existence of the marital relationship; (5) The legal heirs inherit the ownership of land and houses through inheritance; (6) Foreign embassies, consulates and representative offices of international organizations in China that shall be exempt from tax in accordance with the law shall inherit the ownership of land and houses. According to the needs of national economic and social development, the deed tax may be exempted or reduced for the guarantee of residents' housing needs, enterprise restructuring and reorganization, post-disaster reconstruction, etc., and shall be reported to the Standing Committee of the National People's Congress for the record.

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Legal analysis: children legally inherit their parents' real estate and are exempt from deed tax. Stamp duty is payable based on the appraised value of the property*.

Legal basis: According to Article 6 of the Deed Tax Law of the People's Republic of China, deed tax shall be exempted under any of the following circumstances: (1) State organs, public institutions, social organizations, and military units shall inherit the ownership of land and houses for office, teaching, traditional Chinese medicine, scientific research, and military facilities; (2) Non-profit schools, medical establishments, and social welfare organizations that receive land and housing ownership for office, teaching, medical care, scientific research, pension, or assistance; (3) Inherit the right to use barren mountains, wastelands, and barren beaches for agriculture, forestry, animal husbandry, and fishery production; (4) Changing the ownership of land or houses between husband and wife during the existence of the marital relationship; (5) The legal heirs inherit the ownership of land and houses through inheritance; (6) Foreign embassies, consulates and representative offices of international organizations in China that shall be exempted from tax in accordance with the law shall inherit the ownership of land and houses.

According to the needs of the national economy and the development of the society, the guarantee of residents' housing needs, the restructuring and reorganization of enterprises, and post-disaster reconstruction may be exempted or reduced from deed tax, and reported to the Standing Committee of the National People's Congress for the record. Article 2 of the Provisional Regulations of the People's Republic of China on Stamp Duty stipulates that the following vouchers are taxable vouchers:

1) Purchase and sale, processing contracting, construction project contracting, property leasing, cargo transportation, warehousing and storage, loans, property insurance, technical contracts or certificates of a contractual nature; (2) Documents for the transfer of property rights, (3) business account books; (4) Other documents of rights and licenses as determined by the Ministry of Finance for taxation.

Inheriting the parents' house needs to pay taxes, and the deed tax must be paid according to the standard, such as the notarization of real estate inheritance is subject to a notary fee, which is charged at 2% of the inherited area. Legal heirs (including spouses, children, parents, siblings, grandparents, and maternal grandparents) inherit land and house ownership, and no deed tax is levied. In addition, if the inheritance is subject to tax in accordance with the law, the tax shall be paid according to the law.

[Legal basis].Article 1122 of the Civil Code of the People's Republic of China provides that an estate is the personal lawful property left behind by a natural person upon his death.

An inheritance that is not allowed to be inherited in accordance with the law or by its nature shall not be inherited.

Article 1159.

The division of the estate shall pay off the taxes and debts that the decedent shall pay in accordance with the law; However, the necessary inheritance should be reserved for the heirs who lack the ability to work and do not have a livelihood.

1. The legal inheritance does not need to pay deed tax, but the tax authorities need to go through the reduction and exemption procedures, and the non-statutory inheritance needs to pay the deed tax, and the recipient of the donated property needs to pay the deed tax. The tax rate is determined in the range of 3-5% for each province and city, and may vary from province to province, and the tax basis is the assessed value or the tax verification value. 2. According to the notice of the Ministry of Finance and the State Administration of Taxation on adjusting several tax policies for the real estate market, "the deed tax shall be temporarily reduced by half for individuals who purchase ordinary residences for their own use."

The offer is only for purchases. 3. In addition, you must pay the certificate production cost of 28 yuan, the registration fee of 80 yuan, and the surveying and mapping fee (if you need to survey and map). 4. Stamp duty shall be paid according to the appraised value or tax verification value, and 20% individual income tax shall be paid on gifts according to accidental income, and individual income tax shall not be paid for statutory and non-statutory inheritance, because there is no provision to pay.

Civil Code of the People's Republic of China

Article 1127.

The estate is inherited in the following order:

a) First order:

spouse, children, parents;

b) Second order:

Siblings, grandparents, maternal grandparents.

After the inheritance begins, it will be inherited by the first-order heirs of He Feng, and the second-order heirs will not inherit;

If there is no first-order heir to inherit the shirt, the second-order heir shall inherit.

For the purposes of this Part, the term "children" includes legitimate children, children born out of wedlock, adopted children and dependent stepchildren.

For the purposes of this Part, the term "parents" includes biological parents, adoptive parents and step-parents in a dependent relationship.

The term "siblings" as used in this Part includes siblings of the same parents, half-siblings or half-siblings, adoptive siblings, and step-siblings who have a dependent relationship.