Specific Provisions of the Ministry of Finance and the State Administration of Taxation on the Issues concerning the Stamp Tax on Loan Contracts

Specific Provisions of the Ministry of Finance and the State Administration of Taxation on the Issues concerning the Stamp Tax on Loan Contracts

Specific Provisions of the Ministry of Finance and the State Administration of Taxation on the Issues concerning the Stamp Tax on Loan Contracts

Guo Shui Di Zi [1988] No.30

December 12, 1988

Taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan, taxation bureaus of Nanjing City and Chengdu City, and branches of the Offshore Petroleum Taxation Bureau,

In accordance with the Interim Regulations of the People's Republic of China on Stamp Tax and its implementing rules, the issues concerning the stamp tax on loan contracts are hereby specified as follows:

I. Stamp tax issues concerning the receipt of bank loan obtained by means of IOU. At present, the procedures for credit business in local banks are not uniform: some banks only request the signing of a contract; some only request the issuance of an IOU; and some others request both of them.
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