Circular of the Ministry of Finance and the State Administration of Taxation on the Continued Exemption of Individual Income Taxes Levied on Income Obtained from the Transfer of Shares

Circular of the Ministry of Finance and the State Administration of Taxation on the Continued Exemption of Individual Income Taxes Levied on Income Obtained from the Transfer of Shares


Circular of the Ministry of Finance and the State Administration of Taxation on the Continued Exemption of Individual Income Taxes Levied on Income Obtained from the Transfer of Shares

Cai Shui Zi [1998] No.61

March 30, 1998

All financial departments, state taxation bureaus and local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan:

In order to support enterprise reformation and promote the healthy development of the stock market, the State Council has decided that income obtained from the transfer of shares issued by listed companies shall not be taxed as income for the purposes of levying individual income taxes.
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