Business Tax on bond trading | KPMG | CN

Business Tax on bond trading

Business Tax on bond trading

China Alert: Financial Service Focus - Issue 2, September 2014

1000

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China Alert: Financial Service Focus

On 28 August 2014, the State Administration of Taxation promulgated SAT Announcement [2014] No. 50 “Business Tax Treatment on Trading of Bonds” to clarify when bonds are disposed of before maturity, any proceeds (including interest) derived from the holding period should still be deducted from the purchase cost, thus effectively including this amount in the taxable turnover for Business Tax purposes.

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