Circular of Ministry of Finance and State Administration of Taxation on Relevant Issues concerning the Levy of Business Tax on Financial Industry
Circular of Ministry of Finance and State Administration of Taxation on Relevant Issues concerning the Levy of Business Tax on Financial Industry
Circular of Ministry of Finance and State Administration of Taxation on Relevant Issues concerning the Levy of Business Tax on Financial Industry
Cai Shui Zi [1995] No. 79
August 11, 1995
With the decision derived from discussion, we hereby clarify the levy of business tax on financial industry as below, please execute accordingly.
I. Transactions between financial institutions are exempted from business tax tentatively.
Transactions between financial institutions mean inter-branch fund transaction of financial enterprises, fund transactions between financial enterprises and People's Bank of China and inter-bank fund transactions.
II.
......
Cai Shui Zi [1995] No. 79
August 11, 1995
With the decision derived from discussion, we hereby clarify the levy of business tax on financial industry as below, please execute accordingly.
I. Transactions between financial institutions are exempted from business tax tentatively.
Transactions between financial institutions mean inter-branch fund transaction of financial enterprises, fund transactions between financial enterprises and People's Bank of China and inter-bank fund transactions.
II.
......