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Personal Life, Private Collections and Hobby
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News and
Information Links:
According to a circular
released by the administration, earnings from auctions of private property
-- excluding manuscripts and their copies -- will be taxed at a rate of 20
percent. Earnings are defined as final auction prices after deduction of
commissions and the original value of the items.
A two percent tax will
be levied on properties certified by cultural heritage authorities as
cultural relics being brought back into China from overseas, the circular
says.
Related Links:
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