KNOWLEDGE|
1. |
Taxpayers |
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The taxpayers of Stamp Duty include any enterprise, unit, individual household business operators and other individual who executes or receives specified documents (taxable documents) listed in the Tax Law within the territory of China. According to the different types of taxable documents, taxpayers can be divided into the following six categories: |
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1） |
The parties of the contract (including the documents in the nature of a contract), excluding the guarantor, witness and expert witness; |
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2） |
The parties of the document, refers to the units or individuals that establish the documents for transferring property rights; |
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Bookkeepers: refers to the units and individuals that create and use business books; |
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Recipients: refers to the units and individuals who receive and hold licenses and permits; |
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5） |
Users: the users of the taxable documents which is written and received in a foreign country but used in China; |
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6） |
Signatory of various electronic taxable documents. |
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2. |
Taxable items and tax rates |
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3. |
Tax Base |
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4. |
Tax Computation |
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Tax payable = Tax Base x Applicable rate, or Tax payable = Number of pieces of taxable documents x Tax amount per piece (RMB 5 yuan) |
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| 5. |
Major Exemptions and Deductions |
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1) |
Duplicates or copies of documents on which stamp duty has already been paid are exempt from stamp duty; |
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2) |
Non-interest bearing or discounting loan contracts are exempt from stamp duty; |
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3) |
The lease contracts for living signed by the real estate department and individuals are exempt from stamp duty; |
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4) |
Insurance contracts for agriculture and forestry products, and animals in animal husbandry. are exempt from stamp duty; |
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5) |
The college students’ apartment rental contracts signed with college students are exempt from stamp duty; |
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6) |
The public rental housing operation and management department purchase house as public rental house, the housing purchase contracts for public rental housing operation and management department and the public house leasing contracts for both parties are exempt from stamp duty; |
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7) |
From May 1, 2018, the stamp duty on the business books of "paid-in capital" and "capital reserve" would be halved; |
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8) |
The stamp duty related to the reconstruction and resettlement housing business and management units, developers and the stamp duty related to the purchase of resettlement housing by individuals would be exempted from July 4, 2013. |
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Disclaimer All information in this article is only for the purpose of information sharing, instead of professional suggestion. Kaizen will not assume any responsibility for loss or damage. |
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