Securities Exchange Tax

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26 Securities Exchange Tax

TAX SCOPE

IMPLEMENTATION

TAX SCOPE

This tax is levied on chargeable securities (e.g., shares, bonds).

IMPLEMENTATION

In accordance with the objectives outlined by the Industrial and Commercial Tax Reform Plan drafted by the State Administration of Taxation and approved by the State Council on December 25, 1993, China will, at the appropriate time, levy Securities Exchange Tax on the country's stock exchanges instead of Stamp Tax.