Stamp Tax Law of the People's Republic of China

Stamp Tax Law of the People's Republic of China

(on June 10, 2021, the thirteenth session of the standing committee of the National People's Congress conference by 29)

Article 1 The units and individuals who issue taxable certificates and engage in securities trading within the territory of the People's Republic of China are the stamp tax taxpayers and shall pay the stamp tax in accordance with the provisions of this Law.

Book stand outside the People's Republic of China were used in the taxable vouchers, units and individuals shall pay stamp duty in accordance with the provisions of this law.

Article 2 the term "taxable vouchers, refers to the provisions of the stamp tax items and tax rates table" attached list of contracts, transfer of property rights and business books.

Article 3 the securities referred to in this law refers to transfer at a lawfully established securities exchange, the State Council for approval of other national securities exchange trading of stocks and shares based depositary receipts.

The stamp tax on securities trading shall be levied on the transferor, not the transferee.

Article 4 The ITEMS and RATES of STAMP TAX shall be implemented in accordance with the Schedule of Items and Rates of Stamp Tax attached to this Law.

Article 5 Stamp duty shall be calculated on the following basis:

(a) taxable plan tax basis of the contract, as listed in the contract amount does not include the VAT tax specified;

(2) The basis for the calculation of tax on the documents for the transfer of taxable property rights shall be the amount listed in the documents for the transfer of property rights, excluding the VAT tax stated in the documents;

(3) the taxable business plan tax basis of books, as recorded in the books of paid-in capital (equity), capital reserves total amount;

(4) The tax basis for securities trading shall be the transaction amount.

Article 6 Where the amount is not specified in the taxable contract or the property right transfer document, the basis for stamp tax calculation shall be determined according to the amount actually settled.

Still cannot be determined in accordance with the provisions of the preceding paragraph, tax basis according to the book end contract, transfer of property rights according to the market price of sure; Where government pricing or government-guided pricing is required according to law, it shall be determined in accordance with the relevant provisions of the State.

Article 7 the securities trading without transfer price, according to handle the formalities for registration of the transfer in the securities in the previous session's closing price of calculate and determine the tax basis; If there is no closing price, the tax basis shall be determined according to the face value of the security.

Article 8 The amount of tax payable on stamp duty shall be calculated according to the basis of tax calculation multiplied by the applicable tax rate.

Article 9 Where the same taxable document contains two or more items of tax items and specifies the amounts respectively, the tax payable shall be calculated separately according to the tax rates applicable to the respective tax items. If the amount is not specified separately, the higher tax rate shall apply.

Article 10 the same taxable vouchers by two or more parties aimed, in accordance with their respective amount payable tax amount shall be calculated respectively.

Article 11 If the total amount of paid-up capital (share capital) and capital reserve recorded in the business account books for which stamp duty has been paid increases in subsequent years compared with the total amount of paid-up capital (share capital) and capital reserve for which stamp duty has been paid, the tax payable shall be calculated according to the increase.

Article 12 The following documents are exempted from stamp duty:

(1) A copy or copy of the taxable certificate;

(2) in accordance with the law shall be duty-free foreign embassy, consulate, and international organizations in order to obtain the representative offices of library book stand taxable vouchers;

(3) of the Chinese people's liberation army, the Chinese people's armed police forces bookends taxable vouchers;

(4) farmers, family farms, farmers' professional co-operatives, the rural collective economic organizations, villagers' committee buying or selling of agricultural products aimed for agricultural production supplies sales contract and contract of insurance of agriculture;

(5) without interest or discount interest loan contract, international financial organizations to provide preferential loans to China bookends loan contract;

(6) Documents for the transfer of property rights issued by the property owner to the government, school, social welfare institution or charitable organization;

(7) Sales contracts concluded by non-profit medical and health institutions for purchasing drugs or health materials;

(8) Electronic orders made by individuals and e-commerce operators.

According to the needs of the national economic and social development, The State Council may stipulate the reduction or exemption of stamp duty under such circumstances as the guarantee of the housing needs of residents, the restructuring and reorganization of enterprises, bankruptcy and support for the development of small and micro enterprises, and report it to the Standing Committee of the National People's Congress for the record.

Article 13 Where a taxpayer is a unit, it shall report and pay stamp duty to the competent tax authorities in the place where its establishment is located; Taxpayer for individuals, shall be submitted to the taxable vouchers bookends or taxpayers to live with the local competent tax authorities to pay stamp duty.

Real estate property right shift, the taxpayer shall submit to the competent tax authorities to pay stamp duty of the place where the property is situated.

Article 14 the taxpayer for overseas units or individuals, in China there are agent, with its agent within the territory shall be the withholding agents. Where there is no agent within China, the taxpayer shall declare and pay the stamp duty by himself. The specific measures shall be formulated by the competent tax department under The State Council.

A securities registration and settlement institution, as the withholding agent of the stamp tax on securities transactions, shall report to the competent tax authorities in the place where the institution is located the tax returned and the interest of bank settlement.

Article 15 for taxpayers tax liability time stamp duty bookends taxable vouchers or complete securities trading on the same day.

The securities transaction stamp tax withholding obligations for securities trading day.

Article 16 Stamp duty shall be levied quarterly, annually or on a quarterly basis. According to season, according to years of duty, the taxpayer shall quarterly and annual report and pay tax within 15 days from the date of the end of; Where the tax is levied on a per-case basis, the taxpayer shall report and pay the tax within 15 days from the date of the occurrence of the tax liability.

The stamp duty on securities transactions is paid weekly. The withholding agent of the stamp tax on securities trading shall, within five days from the end of each week, report the tax discharged and the interest settled by the bank.

Article 17 the stamp duty can use pasting stamp duty ticket or other tax payment receipts issued by tax authorities in accordance with the way to pay.

Stamp duty ticket paste on the taxable documents, by the taxpayer in the tax bill each place stamped cancellation or pin.

The production of tax stamps shall be supervised by the competent taxation department under The State Council.

Article 18 Stamp duty shall be collected and administered by tax authorities in accordance with this Law and the Law of the People's Republic of China on the Administration of Tax Collection.

Article 19 Taxpayers, withholding agents, tax authorities and their staff members who violate the provisions of this Law shall be investigated for legal liabilities in accordance with the Law of the People's Republic of China on the Administration of Tax Collection and other relevant laws and administrative regulations.

Article 20 of this law shall enter into force as of July 1, 2022. The Provisional Regulations of the People's Republic of China on Stamp Duty promulgated by The State Council on August 6, 1988 shall be abrogated at the same time.