The official promise will ensure that the tax burden of all industries will only be reduced rather than increased. According to the new regulations, the financial industry will change the business tax rate from the highest 5% to the value-added tax rate of 6% after the reform of the camp.
According to the Notice of State Taxation Administration of The People's Republic of China of the Ministry of Finance on Further Defining and Comprehensively Pushing Forward the Relevant Policies of the Pilot Financial Industry in the Reform of the Business Tax, financial institutions pledge to buy financial products for resale and hold policy financial bonds, which are all interest income from financial interbank transactions and can be exempted from value-added tax.
Extended data
Scope of tax increase and collection
The specific scope of taxable behavior shall be implemented in accordance with the notes on sales services, intangible assets and real estate attached to these Measures. The sale of labor services, intangible assets or real estate refers to the paid provision of labor services and the paid transfer of intangible assets or real estate, except the following non-operating activities:
1. Government funds or administrative fees collected by administrative units that meet the following conditions at the same time.
Government funds approved by the State Council or the Ministry of Finance, and administrative fees approved by the State Council or the provincial people's government and its finance and price departments; At the time of collection, the financial bills supervised (printed) by the financial department at or above the provincial level (including the provincial level) shall be used; The money received should be turned over to the finance in full.
2. Employees employed by units or individual industrial and commercial households provide paid services for their units or employers.
3. Units or individual industrial and commercial households that provide services for employees.
4. Other circumstances stipulated by the Ministry of Finance of People's Republic of China (PRC) and State Taxation Administration of The People's Republic of China.
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Baidu Encyclopedia-Financial Industry Reform