Personal responsibility.

According to the "Notice of the Ministry of Finance and the State Administration of Taxation on Comprehensively Launching the Pilot Program of Replacing Business Tax with Value-Added Tax" (Caishui [2016] No. 36), Article 1 of the "Notes on Sales Services, Intangible Assets, and Real Estate" attached Item 4 of Paragraph 3 stipulates: "Transfer of financial products refers to business activities that transfer the ownership of foreign exchange, securities, non-goods futures and other financial products.

The transfer of other financial products includes funds, trusts, financial management Products and other types of asset management products and the transfer of various financial derivatives. "Therefore, commercial acceptance bills are a type of securities, and the transfer of commercial acceptance bills should be subject to value-added tax as the transfer of financial products.