There is no clear time limit for temporarily exempting individual income tax from stock transfer. Why is it called "temporary exemption"? According to the individual income tax law, the income from individual stock transfer is a taxable item of "property transfer income", and individual income tax should be levied at the rate of 20%. However, according to State Taxation Administration of The People's Republic of China, in order to cooperate with the restructuring of Chinese enterprises and encourage the healthy development of the securities market, with the consent of the State Council, the Ministry of Finance of People's Republic of China (PRC) and State Taxation Administration of The People's Republic of China issued relevant notices for three consecutive times in1June 1994,1February 1996/kloc-0 and1March 1998, respectively, stipulating that/kloc- The newly revised Regulations for the Implementation of the Individual Income Tax Law in 2005 stipulates that individuals whose annual income is more than120,000 yuan shall declare and pay taxes to the tax authorities on their own, including the income from individual stock transfer. However, State Taxation Administration of The People's Republic of China also stipulates that for taxpayers with annual income of120,000 yuan or more, although they have to declare their own income from stock transfer, they are still not subject to personal income tax. In other words, the self-declaration of stock transfer income and whether it is taxed are two different things. However, State Taxation Administration of The People's Republic of China has not made it clear when the levy will be temporarily exempted. In addition, State Taxation Administration of The People's Republic of China also requested that the income from individual housing transfer be listed separately for the first time, which triggered speculation that capital income tax would be levied in the next step. As far as taxation is concerned, capital gains refer to the gains that capital goods such as stocks, bonds, real estate, land or land use rights exceed expenditures when they are sold or traded, that is, asset appreciation.