Land & Resources Taxation
Land Value Tax
Land Value Tax is an annual tax payable by landowners in Xuande-Xiphoi. The total tax owing is based on the value of land parcels, which are valued by Regional Government Authorities regularly. Land value comprises of the value of the land parcel but not including any improvements built upon the land, however it does take into account value created by surrounding developments and improvements.
Land owners may be individuals, companies or trustees, who:
The rate of land taxation if a flat rate of 2.1% on the taxable value of the land holdings.
Some land is exempt from land value tax, including land held in trust under an approved environmental conservation scheme, properties owned by diplomatic or consular posts or agencies (including a refund payable to landlords of such properties where rent is paid), and land owned and managed by the Xuande-Xiphoian Government or a Regional Government Authority.
Where agreed by the Regional Government Authority and the Xuande-Xiphoian Government, land value taxes on specific land parcels can be suspended for up to 5 years to allow for the redevelopment or rebuilding upon land, so as to allow for enhanced useability and efficiency of the nation's land.
Land owners may be individuals, companies or trustees, who:
- Hold the freehold title to land.
- Hold a lease of Government land.
- Hold a Government land licence with an absolute or conditional right to acquire the land.
- Are a life tenant.
- Manage a title-based, time-sharing scheme.
- Are a beneficiary or unitholder of certain trusts.
The rate of land taxation if a flat rate of 2.1% on the taxable value of the land holdings.
Some land is exempt from land value tax, including land held in trust under an approved environmental conservation scheme, properties owned by diplomatic or consular posts or agencies (including a refund payable to landlords of such properties where rent is paid), and land owned and managed by the Xuande-Xiphoian Government or a Regional Government Authority.
Where agreed by the Regional Government Authority and the Xuande-Xiphoian Government, land value taxes on specific land parcels can be suspended for up to 5 years to allow for the redevelopment or rebuilding upon land, so as to allow for enhanced useability and efficiency of the nation's land.