Circular on Relevant Tax Policies for Rural Finance
Circular on Relevant Tax Policies for Rural Finance
Circular on Relevant Tax Policies for Rural Finance
Cai Shui [2010] No. 4
May 13, 2010
The finance departments (bureaus), offices of the State Administration of Taxation, local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan and the finance bureau of Xinjiang Production and Construction Corps:
In order to support the development of rural finance, solve peasants' difficulties of loans, upon approval of the State Council, tax policies in relation to rural finance are hereby set out as follows:
I. From January 1, 2009 to December 31, 2013, business tax on incomes of interest generated from small loans granted by financial institutions to peasant households shall be exempted.
II. From January 1, 2009 to December 31, 2013, for calculation of taxable incomes, 90% of incomes of interest generated from small loans granted by financial institutions to peasant households shall be included into the gross revenue.
III. From January 1, 2009 to December 31, 2011, business tax rate shall be reduced to 3% on incomes from financial and insurance businesses operated by rural credit cooperatives, village/town banks, rural fund mutual-aid cooperatives, loan companies solely initiated and invested by banking institutions, and rural cooperation banks and rural commercial banks the legal person domiciles of which are located in counties (including county-level cities, districts and leagues) and places under the level of county.
IV.
......
Cai Shui [2010] No. 4
May 13, 2010
The finance departments (bureaus), offices of the State Administration of Taxation, local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan and the finance bureau of Xinjiang Production and Construction Corps:
In order to support the development of rural finance, solve peasants' difficulties of loans, upon approval of the State Council, tax policies in relation to rural finance are hereby set out as follows:
I. From January 1, 2009 to December 31, 2013, business tax on incomes of interest generated from small loans granted by financial institutions to peasant households shall be exempted.
II. From January 1, 2009 to December 31, 2013, for calculation of taxable incomes, 90% of incomes of interest generated from small loans granted by financial institutions to peasant households shall be included into the gross revenue.
III. From January 1, 2009 to December 31, 2011, business tax rate shall be reduced to 3% on incomes from financial and insurance businesses operated by rural credit cooperatives, village/town banks, rural fund mutual-aid cooperatives, loan companies solely initiated and invested by banking institutions, and rural cooperation banks and rural commercial banks the legal person domiciles of which are located in counties (including county-level cities, districts and leagues) and places under the level of county.
IV.
......