(The test site of this question has expired) The difference income of securities investment fund managers who use funds to buy and sell stocks and bonds shall be exempted from business tax. The Notice on Taxation of Securities Investment Funds issued by the Ministry of Finance and State Taxation Administration of The People's Republic of China stipulates that the difference income of fund managers from buying and selling stocks and bonds with funds shall be temporarily exempted from business tax before the end of 2003. The Notice of State Taxation Administration of The People's Republic of China, Ministry of Finance of People's Republic of China (PRC) on the Tax Policy of Securities Investment Funds stipulates that since June 5438+ 10/day, 2004, managers of securities investment funds (closed-end securities investment funds and open-end securities investment funds) will continue to be exempted from business tax on the difference income from buying and selling stocks and bonds with the funds.