The Ministry of Finance and the State Administration of Taxation have jointly released the Circular on Stamp Tax Exemption for Loan Contracts Entered into Between Financial Institutions and Small and Micro Enterprises (the "Circular").
The Circular makes it clear that between November 1, 2014 and December 31, 2017, loan contracts entered into between financial institutions and small and micro enterprises shall be exempted from stamp tax. The recognition of the aforesaid small and micro enterprises shall be carried out in accordance with the relevant provisions under the Circular of the Ministry of Industry and Information Technology, the National Bureau of Statistics, the National Development and Reform Commission and the Ministry of Finance on Issuing the Provisions on the Standards for the Classification of Small and Medium-sized Enterprises.