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Circular regarding Clarifying Completion Conditions of Developments of Real Estate Development Enterprises (SAT Circular 201) - 国家税务总局关于房地产开发企业开发产品完工条件确认问题的通知
July 1, 2010
Released and effective on May 12, 2010
On May 12, 2010, the State Administration of Taxation (“SAT”) issued a Circular regarding Clarifying the Completion Conditions of Developments of Real Estate Development Enterprise (REDE). According to this circular, from a taxation perspective, a development will be deemed as being completed in the situation where (1) the REDE starts delivering the developed product; and (2) the developed product is put into actual use. Thereafter, the REDE shall settle the taxable cost and calculate the taxable incomes of the year.