Chongqing to cut warehouse tax 50pc to meet rising property prices
2012 03 23
- Details
SOUTHWESTERN China's emerging manufacturing city Chongqing plan to reduce land using tax on warehouses, both owned and leased, by 50 per cent in the upcoming three years, Xinhua reports.
With demand soaring, Chongqing is facing a shortage of warehousing facilities. Warehouse charge has gone to CNY20 (US$3.16) per square metre from CNY10. Reduction of the land using tax is expected to reduce operating cost for logistics service providers.
Source Shipping Gazette - Daily Shipping News
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