Stamp Tax Law of the People's Republic of China
(adopted at the 29th meeting of the Standing Committee of the 13th National People's Congress on June 10, 2021)
Article 1 Units and individuals who have written taxable vouchers and conduct securities transactions within the territory of the People's Republic of China, who are taxpayers of stamp duty, shall pay stamp duty in accordance with the provisions of this Law.
Units and individuals who write taxable certificates for use in the country outside the People's Republic of China shall pay stamp duty in accordance with the provisions of this Law.
Article 2 The taxable certificate referred to in this Law refers to the contract, property transfer document and business account books listed in the "Stamp Tax Tax Rate Table" attached to this Law.
Article 3 The securities transaction referred to in this Law refers to the transfer of stock and stock-based depositary receipts traded in stock exchanges established in accordance with the law, other national stock trading venues approved by the State Council.
Securities transaction stamp duty will be charged to the transferor of securities transactions and will not be charged to the transferor.
Article 4 The tax items and tax rates of stamp duty shall be implemented in accordance with the "Stamp Tax Tax Rate Table" attached to this Law.
Article 5 The basis for stamp tax calculation is as follows:
(I) The tax calculation basis for taxable contracts is the amount listed in the contract, excluding the value-added tax tax listed;
(II) The tax calculation basis for taxable property transfer documents, which is the amount listed in the property transfer documents, which does not include the value-added tax tax listed;
(III) The tax calculation basis for taxable business books is the total amount of paid-in capital (equity capital) and capital reserves recorded in the books;
(IV) The tax calculation basis for securities transactions is the transaction amount.
Article 6 If the taxable contract and property transfer letter are not specified in the amount, the basis for tax calculation of stamp duty shall be determined according to the actual settlement amount. If the basis for tax calculation cannot be determined according to the provisions of the preceding paragraph, it shall be determined according to the market price at the time of the written contract and the transfer of property rights; if the government pricing or government guidance price shall be implemented in accordance with the law, it shall be determined according to relevant national regulations.
Article 7 If there is no transfer price for securities transactions, the tax calculation basis shall be determined according to the closing price of securities the previous trading day of the previous trading day; if there is no closing price, the tax calculation basis shall be determined according to the face value of the securities.
Article 8 The taxable amount of stamp duty is calculated based on the tax basis multiplied by the applicable tax rate.
Article 9 If the same taxable voucher contains more than two tax items and the amount is stated separately, the taxable amount shall be calculated separately according to the applicable tax items and tax rates; if the amount is not specified separately, the applicable tax rate shall be higher.
Article 10 If the same taxable voucher is written by more than two parties, the taxable amount shall be calculated separately according to the amount involved.
Article 11 If the business books that have paid stamp duty have increased, if the total amount of paid-in capital (equity capital) and capital reserve recorded in subsequent years has increased compared with the total amount of paid-in capital (equity capital) and capital reserve that has paid stamp duty has been paid, the taxable amount shall be calculated according to the increase.
Article 12 The following vouchers are exempt from stamp duty:
(I) Copy or copy of taxable vouchers;
(II) Representative agencies of foreign embassies, consulates and international organizations in China that should be exempted in accordance with the law to obtain taxable vouchers;
(III) Taxable vouchers written by the People's Liberation Army of China and the People's Armed Police Force of China;
(IV) Farmers, family farms, farmers' professional cooperatives, rural collective economic organizations, and villagers' committee members Sales contracts and agricultural insurance contracts that will purchase agricultural means of production or sell agricultural products;
(V) interest-free or interest-subsidized loan contracts, loan contracts that international financial organizations provide preferential loans to China;
(VI) Property owners donate property rights transfer documents to governments, schools, social welfare institutions, and charitable organizations;
(VIII) Sales contracts that non-profit medical and health institutions purchase drugs or sanitary materials;
(VIII) Electronic orders signed by individuals and e-commerce operators.
According to the needs of national economic and social development, the State Council may stipulate a reduction or exemption of stamp duty for situations such as housing needs guarantee, enterprise restructuring and reorganization, bankruptcy, and support for the development of small and micro enterprises, and submit it to the Standing Committee of the National People's Congress for filing.
Article 13 If a taxpayer is a unit, he shall declare and pay stamp duty to the competent tax authority in the place of his institution; if a taxpayer is an individual, he shall declare and pay stamp duty to the competent tax authority in the place of taxable certificate or the place of residence of the taxpayer.
If the property rights of real estate are transferred, the taxpayer shall declare and pay stamp duty to the competent tax authority in the place where the real estate is located.
Article 14 If a taxpayer is an overseas unit or individual and has an agent in the country, his or her domestic agent shall be the withholding agent; if there is no agent in the country, the taxpayer shall declare and pay stamp duty by himself. The specific measures shall be stipulated by the tax authorities of the State Council.
The securities registration and settlement institution is the withholding agent for securities transaction stamp duty, and shall declare the tax payment and interest on bank settlement to the competent tax authority where its institution is located.
Article 15 Stamp duty Tax obligation occurs when is the day when the taxpayer writes taxable vouchers or completes securities transactions.
The time when the stamp duty withholding obligation for securities transactions occurs is the day when the securities transaction is completed.
Article 16 Stamp duty is levied quarterly, annually or per order. If the tax is subject to quarterly or annual tax, the taxpayer shall declare and pay taxes within fifteen days from the end of the quarterly or year; if the tax is subject to quarterly or yearly, the taxpayer shall declare and pay taxes within fifteen days from the date of the tax obligation.
securities transaction stamp duty is paid weekly. The withholding agent for securities transaction stamp duty shall declare the tax payment and interest settled by the bank within five days from the end of each week.
Article 17 Stamp duty can be paid by pasting stamp duty invoice or by the tax authority to issue other tax payment certificates in accordance with the law. If the
stamp duty invoice is pasted on the taxable voucher, the taxpayer shall stamp the stamp and cancel or cancel the stamp at the cam of each tax invoice.
stamp duty invoices are supervised by the tax authorities of the State Council.
Article 18 Stamp duty is collected and managed by the tax authorities in accordance with this Law and the provisions of the " Tax Collection and Administration Law of the People's Republic of China ".
Article 19 If the taxpayer, withholding agent, tax authorities and their staff violate the provisions of this Law, legal liability shall be pursued in accordance with the provisions of the "Tax Collection and Administration Law of the People's Republic of China" and relevant laws and administrative regulations.
Article 20 This Law shall come into effect on July 1, 2022. The " Interim Regulations on Stamp Duty of the People's Republic of China" issued by the State Council on August 6, 1988 is also abolished.
Source: Xinhua News Agency
Editor: Zhang Jin
