Tax Levy and Administration News
- No tax on stock gains: tax administration
Date: 5-Mar-2007 Sources: (Shenzhen Daily)
THE government will continue to exempt capital gains from tax, the State Administration of Taxation said Saturday, in a first official denial since talks of a tax on stock market gains helped push China's stocks into a tailspin and roiled markets elsewhere.
The comment was posted on its Web site and follows an earlier Saturday report from Xinhua. Xinhua quoted an unnamed State Administration of Taxation official saying similar, and that the rumors of a tax were groundless.
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