Definition of Stamp Duty

It is levied on taxable documents such as various contracts signed in economic activities, property rights transfer documents, business account books, rights licenses, etc. Tax. For stamp duty, the taxpayer shall purchase and affix stamps on his own in accordance with the prescribed taxable proportion and quota, thus completing the tax obligation.

Stamp tax on securities transactions is developed from ordinary stamp tax and belongs to the behavioral tax category. It is levied on both buyers and sellers based on the transaction amount of a stock transaction. The basic tax rate is 0.1% (note: original tax rate is 0.3%. With the approval of the State Council, starting from April 24, 2008, the stamp tax rate for securities and stock transactions will be adjusted from three thousandths to one thousandth, and no stamp tax will be levied on funds and bonds).

The origin of stamp duty

Stamp duty is a very ancient tax that people are familiar with, but its origin is little known. From the perspective of tax history theory, the “introduction” of any kind of tax is inseparable from the political and economic needs of the time, and the same is true for the emergence of stamp tax. There are many interesting anecdotes during this period.

In 1624 AD, the Dutch government experienced an economic crisis and financial difficulties. In order to solve his financial needs, Maurs, the ruler who was in power at that time, proposed to increase taxes to solve the expenditure difficulties. However, he was afraid of the people's opposition, so he asked the government ministers to provide suggestions. The ministers discussed it over and over again, but they couldn't think of a way to get the best of both worlds. Therefore, the ruling class of the Netherlands used public bidding methods to seek new tax design plans with heavy rewards and seek ways to make money. Stamp duty is a "masterpiece" selected from the plans designed by tens of millions of applicants. It can be seen that the emergence of stamp duty is more legendary than other taxes.

The designer of stamp duty is very original. He observed that people use a lot of documents such as contracts and loan certificates in daily life, which are continuous and continuous. Therefore, once taxes are levied, the tax source will be huge; moreover, people also have a mentality that the government will stamp the documents on the certificates. , it becomes a legal document and can have legal protection during litigation, so it is willing to accept the payment of stamp duty. It is for this reason that stamp duty is praised by bourgeois economists as a "good tax" with light tax burden, strong tax sources, simple procedures and low cost. The British man Kolebe once said: "The technology of taxation is to pluck the most goose feathers and listen to the fewest goose calls." Stamp duty is the type of tax that has the characteristics of "least hearing the goose bleating".

Since the first stamp tax in the world appeared in the Netherlands in 1624, due to the simplicity and ease of stamp tax, European and American countries followed suit. Denmark levied stamp duties in 1660, France in 1665, the United States in 1671, Austria in 1686, and the United Kingdom in 1694. In a short period of time, it has become a commonly used tax in the world and is popular internationally.

Contents of Stamp Duty

1. Concept: The certificates enumerated in the "Provisional Regulations on Stamp Duty of the People's Republic of China" are written and received within the territory of the People's Republic of China. Both entities and individuals are taxpayers of stamp duty and must pay stamp duty in accordance with regulations.

Taxable certificates:

(1) Purchase and sale, processing contracting, construction project contracting, property leasing, cargo transportation, warehousing, borrowing, property insurance, technology contracts or contracts of a contractual nature Voucher;

(2) Property transfer documents;

(3) Business account books;

(4) Rights and licenses;

(5) Other tax receipts determined by the Ministry of Finance.

2. Tax rates: Stamp duty tax items and tax rates table

Tax items

Scope

Tax rates

Taxpayers< /p>

Explanation

1 Purchase and sale contract

Including supply, pre-purchase, procurement, purchase and sale combination and collaboration, adjustment, compensation, barter and other contracts

Decals based on three ten thousandths of the purchase and sale amount

Contractor

2 Processing contract

Including processing, customization, repair, repair, printing, advertising , surveying, mapping, testing and other contracts

Decals based on processing or contracting income of 0.5%

Contractor

3 Construction project survey and design contract

Includes survey and design contracts

Decals are charged at 0.5% of the fee

Contractor

4 Construction and installation project contract

Including construction and installation project contract contracts

Decals based on three ten thousandths of the contract amount

Contractor

5 Property leasing contract

Includes contracts for leasing houses, ships, aircraft, motor vehicles, machinery, appliances, equipment, etc.

Decals are calculated at one thousandth of the lease amount. If the tax amount is less than one yuan, a decal of one yuan will be applied

Contractor

6 Cargo transportation contract

Including civil air transportation, railway transportation, maritime transportation, inland water transportation, Road transport and combined transport contracts

Decals shall be applied at 0.5% of the transportation cost

Contractor

If the document is used as a contract, decals shall be applied according to the contract

7 Warehousing and custody contract

Includes warehousing and custody contracts

Dealed at one thousandth of the warehousing and custody fee

Contractor

< p>If the warehouse receipt or warehouse receipt is used as a contract, it shall be decaled according to the contract

8 Loan contract

The one signed by banks and other financial organizations and the borrower (excluding inter-bank lending) Loan contract

The decal shall be 0.5% of the loan amount

The person making the contract

If the document is used as a contract, the decal shall be denominated according to the contract

< p>9 Property insurance contract

Includes property, liability, guarantee, credit and other insurance contracts

Discount based on one thousandth of the insurance premium income

Contractor

If the document is used as a contract, it shall be decaled according to the contract

10 Technology contracts

Including technology development, transfer, consulting, service and other contracts

Decals at three ten thousandths of the stated amount

Contractor

11 Property rights transfer documents

Including property ownership and copyright, trademark exclusive rights, patents Rights, proprietary technology use rights, etc. transfer documents

Decals at 50,000% of the amount stated

Original person

12 business account books

p>

Account books for production and operation

Account books recording funds shall be denominated at 50,000% of the total amount of paid-in capital and capital reserve.

Account bookkeeper

13 Rights and licenses

Including house property rights certificates, industrial and commercial business licenses, trademark registration certificates, and patent certificates issued by government departments , land use certificate

Other account books will be stamped with five yuan per item

Recipient

For other regulations, please see the "Interim Regulations of the People's Republic of China on Stamp Duty" .

3. Declaration and payment of stamp duty

1. Which units implement stamp tax declaration?

Taxpaying units that pay stamp duty should declare stamp tax on taxable vouchers; if individuals pay stamp tax, they will only pay the tax with decals and no tax declaration will be carried out for the time being.

2. Which documents are required for stamp duty declaration?

(1) Contract types:

Purchase and sales contract, cargo transportation contract;

Processing contract, warehousing and storage contract;

Construction Engineering survey and design contract, loan contract;

Construction and installation project contract, property insurance contract;

Property leasing contract, technical contract and other documents of a contractual nature.

(2) Property transfer documents.

(3) Business account books.

(4) Rights license.

(5) Other certificates determined by the Ministry of Finance.

3. What does the special registration book for taxpaying units include?

The taxable vouchers of the stamp duty paying unit shall be stamped with tax payment when they are written and received. At the same time, a special registration book for stamp duty must be set up by oneself, and the name of the contract, date of signing, tax rate, name of the counterparty, and the tax amount stated in the taxable certificate shall be recorded day by day and sequentially to facilitate summary declaration and supervision and inspection by the tax department.

Stamp tax paying units should carefully fill in the stamp tax return form and submit it to the local competent tax authority within the prescribed time limit.

4. Which units are not required to establish a special registration book for stamp tax?

For units that implement stamp tax collective payment and submit stamp tax returns in accordance with regulations, the original methods will still be followed for the management of tax vouchers, and registration will not be carried out one by one in day order.

5. Which department of the tax paying unit should be responsible for tax declaration work?

The financial department of the taxpaying unit is responsible for the stamp duty declaration work, and designates a dedicated person to be responsible for the management of various taxable vouchers, stamp tax payment, and filling in the stamp tax declaration form in accordance with regulations.

6. Which methods should be used to pay taxes and declare taxes?

If the stamp duty paying unit uses stamp tax stamps to pay the tax, uses a payment book to pay the tax and pays the tax, and when the taxable voucher is written, the supervising sales agency supervises the tax payment, the tax payment status of the voucher will be the same. A declaration should be made.

7. When should the declaration be made?

All stamp duty tax return reporting units should report on a quarterly basis and submit a "stamp tax tax return form" or "supervision sales report form" to the local local taxation bureau within 10 days after the end of each quarter.

Stamp tax paying units such as agencies, groups, military units, schools, etc. that only handle tax registration can declare the tax for the previous year to the local tax authorities before the end of January of the following year.

8. How are the declaration deadlines and tax payment deadlines for stamp tax determined?

Declaration time: All stamp tax paying units shall submit declarations on a quarterly basis and submit reports to the tax authorities within ten days after the end of each quarter. The local tax authority in the place where you are located shall submit the "Stamp Duty Tax Return Form" or "Supervisory Representative Report Form". Agencies, groups, military units, schools and other stamp duty paying units that only handle tax registration can declare the previous year's taxes to the local tax authorities before the end of January of the following year.

The taxable period for stamp duty is stamped and paid when the stamp tax taxable certificate is issued and received. For entities that implement collective payment of stamp duty, the maximum payment period shall not exceed one month.

Stamp duty is a tax levied on taxable economic documents written and received in economic activities and economic exchanges. In August 1988, the State Council promulgated the "Interim Regulations of the People's Republic of China on Stamp Duty", and the collection was resumed on October 1 of the same year.

Characteristics of stamp tax

1. It has the nature of both voucher tax and behavioral tax;

2. The scope of collection is wide;

3. The tax burden is relatively light;

4. Taxpayers must complete their tax obligations themselves.

1. Taxpayers of Stamp Duty

The People's Republic of China and entities and individuals within the country that write and receive the vouchers listed in these regulations are all taxpayers of stamp duty. Specifically: 1. The person who makes the contract, 2. The person who makes the account book, 3. The person who establishes the evidence, 4. The recipient.

2. Objects of Stamp Duty

The current stamp tax only levies the vouchers listed in the Stamp Duty Regulations. There are five specific categories: economic contracts, property rights transfer documents, business account books, rights, Licenses and other certificates of taxation determined by the Ministry of Finance.

3. Basis for Stamp Duty Calculation

Stamp tax is levied in two ways: ad valorem and specific based on different tax items.

(1) Determination of tax calculation basis in case of ad valorem tax calculation. 1. For various economic contracts, the amount, income or expense recorded in the contract is the basis for calculating tax; 2. For property rights transfer documents, the amount stated in the document is the basis for calculating tax; 3. The business account books recording funds are based on The total amount of paid-in capital and capital reserves is the basis for tax calculation.

(2) Determination of tax calculation basis in case of specific tax calculation. For other business accounts and rights and licenses subject to specific tax calculation, the tax calculation amount shall be the basis for tax calculation.

IV. Stamp tax rates

The current stamp tax adopts two rates: proportional tax rate and fixed tax rate.

There are five proportional tax rates, namely 1/1000, 4/1000, 5/10000, 3/10000 and 0.5/10000.

The fixed tax rate applies to rights licenses and other account books in the tax items of business account books, and the unit tax is five yuan per item.

For details, please refer to the stamp tax item and tax rate table in the "Interim Regulations of the People's Republic of China on Stamp Duty"

5. Calculation of tax payable

Press The method of calculating the tax payable according to the proportional tax rate. The tax payable = the tax amount × the applicable tax rate

The method of calculating the tax payable according to the fixed tax rate. The tax payable = the number of vouchers × the unit tax amount

Issues that should be paid attention to when calculating the amount of stamp duty payable...

6. Tax payment links and tax payment locations

The payment link of stamp duty should be affixed when the book is set or received. Specifically...

Stamp duty is generally paid locally. For...

7. Stamp tax payment method

Stamp tax is implemented by taxpayers who calculate the tax payable according to regulations, purchase and affix all stamp tax stamps (hereinafter referred to as decals) at one time Payment method.

In order to simplify the decal procedure, if the amount of tax payable is large or the number of decals is frequent, taxpayers can apply to the tax authorities to replace the decals with a payment letter or to make collective payments on a regular basis.

Other specific provisions for tax decals...

8. Tax stamps

The tax stamp is a tax payment certificate for payment of stamp tax, and is supervised by the State Administration of Taxation. The par value is in RMB and is divided into 9 types: one dime, two dimes, five cents, one yuan, two yuan, five yuan, ten yuan, five ten yuan, and one hundred yuan.

Tax stamps are securities.

Stamp tax stamps can be entrusted to an organization or individual for sale, and a 5% handling fee will be paid by the tax authority. The source of payment will be drawn from the actual stamp tax collected.

9. Tax benefits of stamp duty

Copy or transcript of the receipt of stamp duty paid;

The property owner donates the property to the government, social welfare unit, Documents established by the school;

Agricultural and sideline product purchase contracts signed between the state-designated purchasing department and village committees and individual farmers;

Interest-free and interest-subsidized loan contracts;

A contract written by a foreign government or an international financial organization to provide preferential loans to the Chinese government and national financial institutions.

Repair orders issued for sporadic processing and repair business in shops and sales departments will not be stamped.

For rental contracts signed between real estate management departments and individuals, if they are used for living and residence, stamps are temporarily exempted;

For express luggage and parcels transported by railways, highways, shipping, and waterways The shipping documents issued are temporarily exempt from stamping.

Consignment documents issued for express luggage and packages transported by railway, highway, shipping, and waterway are temporarily exempted from stamping.

The leasing and contracting operation contract signed between the enterprise and the competent department does not belong to the property leasing contract and should not be decaled.

10. Punishment of Stamp Duty Violations

If a taxpayer commits any of the following acts, the tax authorities will impose penalties according to the severity of the case:

1. If the tax stamp is not affixed or less than affixed to the tax voucher, the tax authorities, in addition to ordering it to subsidize the tax stamp, may impose a fine of 3 to 5 times the amount of the tax stamp that should be subsidized;

2. Failure to cancel as required If a tax stamp has been affixed or is canceled, the tax authorities may impose a fine of 1 to 3 times the amount of the tax stamp that has not been canceled or canceled;

3. The taxpayer should remove the affixed tax stamp. If the tax stamp is reused, the tax authorities may impose a fine of five times the amount of the reused tax stamp or a fine of not less than 2,000 yuan but not more than 10,000 yuan.

4. Anyone who forges tax stamps shall be submitted by the tax authorities to the judicial authorities for criminal liability in accordance with the law.

*97% of the stamp duty on stock transactions goes to the central government, and the rest goes to local governments*

Interim Regulations on Stamp Duty

Article 1 of the People’s Republic of China and Units and individuals within the country who create and receive the vouchers listed in these regulations are all taxpayers of stamp tax (hereinafter referred to as taxpayers) and shall pay stamp tax in accordance with the provisions of these regulations.

Article 2 The following vouchers are taxable vouchers:

1. Purchase and sale, processing contracting, construction project contracting, property leasing, cargo transportation, warehousing, borrowing, property insurance, technology Contract or voucher with a contractual nature;

2. Property transfer documents;

3. Business account books;

4. Rights and licenses;

p>

5. Other tax receipts determined by the Ministry of Finance.

Article 3 Taxpayers shall calculate the tax payable according to the proportional tax rate or the fixed amount according to the nature of the taxable voucher. The specific tax rates and tax amounts are determined in accordance with the "Stamp Duty Items and Rates Table" attached to these Regulations.

If the amount of tax payable is less than a dime, stamp duty is exempted.

If the tax payable is more than one jiao, the tax amount less than five points will not be counted, and the tax amount that is more than five points will be calculated and paid as one jiao.

Article 4 The following vouchers are exempt from stamp duty:

1. A copy or transcript of the voucher for which stamp duty has been paid;

2. The property owner donates the property to Documents issued to the government, social welfare units, and schools;

3. Other tax exemption certificates approved by the Ministry of Finance.

Article 5: Stamp tax shall be paid by taxpayers calculating the amount of tax payable by themselves in accordance with regulations, purchasing and affixing all tax stamps (hereinafter referred to as decals) at one time.

In order to simplify the decal procedure, if the amount of tax payable is large or the number of decals is frequent, taxpayers can apply to the tax authorities to replace the decals with a payment letter or to make collective payments on a regular basis.

Article 6 Tax stamps shall be affixed to taxable vouchers, and the taxpayer shall stamp or cancel the stamp at the seam of each tax stamp.

Affixed tax stamps cannot be reused.

Article 7 Taxable vouchers shall be stamped when they are written or received.

Article 8 If the same voucher is signed by two or more parties and each party holds one copy, each party shall decal the full amount of the copy held.

Article 9 If the amount contained in a decaled voucher increases after modification, the increase shall be subsidized by the stamp tax stamp.

Article 10 Stamp duty shall be collected and managed by the tax authorities.

Article 11 Tax stamps shall be supervised by the State Taxation Bureau. The face amount is in RMB.

Article 12 The unit that issues or handles taxable certificates has the obligation to supervise taxpayers to pay taxes in accordance with the law.

Article 13 If a taxpayer commits any of the following acts, the tax authorities will impose penalties according to the severity of the case:

1. Failure to affix or less than affixing stamp duty on taxable vouchers If the tax stamps are subsidized, the tax authorities, in addition to ordering them to subsidize the stamp tax stamps, may impose a fine of not more than 20 times the amount of the stamp tax stamps that should be subsidized;

2. If the provisions of Article 6, Paragraph 1 of these Regulations are violated, the tax authorities may A fine of not more than 10 times the amount of a tax stamp that has not been canceled or canceled;

3. In violation of the provisions of paragraph 2 of Article 6 of these Regulations, the tax authorities may impose a fine of not more than 30 times of the amount of a reused tax stamp.

Anyone who forges tax stamps shall be submitted by the tax authorities to the judicial authorities for criminal liability in accordance with the law.

Article 14 The collection and management of stamp duty, except as provided for in these regulations, shall be implemented in accordance with the relevant provisions of the "Interim Regulations of the People's Republic of China on Tax Collection and Management".

Article 15 The Ministry of Finance is responsible for the interpretation of these Regulations; the implementation details shall be formulated by the Ministry of Finance.

Article 16 These Regulations shall come into effect on October 1, 1988.

Attachment:

Stamp duty tax items and tax rates table

Tax items

Scope

Tax rates

Taxpayer

Explanation

1

Purchase and sales contract

Including supply, pre-purchase, procurement, purchase and sale combination and collaboration, adjustment, Compensation, barter and other contracts

Decals based on three ten thousandths of the purchase and sale amount

Contractor

2

Processing contract< /p>

Including contracts for processing, customization, repair, repair, printing, advertising, surveying and testing, etc.

Decals based on 0.5% of the processing or contracting income

Established Contractor

3

Construction project survey and design contract

Including survey and design contract

Decals of 0.5% of the fee charged< /p>

Contractor

4

Construction and installation project contracting contract

Including construction and installation project contracting contract

Decal at three ten thousandths of the contract amount

Contractor

5

Property leasing contract

Including leasing houses, ships, and aircraft , motor vehicles, machinery, appliances, equipment, etc.

Decals are calculated at one thousandth of the rental amount. If the tax amount is less than one yuan, a decal of one yuan

Contractor

6

Goods transportation contract

Including civil aviation, railway transportation, maritime transportation, inland water transportation, road transportation and combined transport contracts

Decals based on 50,000% of the transportation cost

Contractor

If the document is used as a contract, it will be decaled according to the contract

7

Warehousing and custody contract

Including warehousing and custody contracts

According to the warehousing and custody fee One-thousandth

One-thousandth decal

Contractor

If the warehouse receipt or warehouse receipt is used as a contract, the decal will be decaled according to the contract

8

Loan contracts

Loan contracts signed by banks and other financial organizations and borrowers (excluding inter-bank lending)

0.00% of the loan amount Point five decal

Contractor

If the document is used as a contract, it will be decaled according to the contract

9

Property insurance contract

Includes property, liability, guarantee, credit, etc. insurance contracts

Decals based on 0.3% of the insured amount

Contractor

Documents Used as a contract, according to

Contract decals

10

Technology contracts

Including technology development, transfer, consulting, service and other contracts

Decals at three ten thousandths of the stated amount

Contractor

11

Property transfer document

< p>Includes transfer documents of property ownership and copyright, exclusive rights to trademarks, patent rights, rights to use proprietary technology, etc.

Decals will be decaled at 50,000% of the stated amount

The holder of the document

12

Business account book for production and operation

Account book for recording funds,

according to the original value of fixed assets and the original value of fixed assets There is a decal of 5/10,000 of the total working capital. Other account books are priced at five yuan per item

Account book holder

13

Rights and licenses

Including those issued by government departments House ownership certificate, industrial and commercial business license, trademark registration certificate, patent certificate, land use certificate

Five yuan per piece

Recipient

Securities from all over the world Overview of transaction stamp tax

United States: abolished in 1966;

Japan: abolished in 1999;

Singapore: abolished in 2001, with zero tax rate for securities transactions.

Europe:

a, the European Union (then the European Union) 1969 directive: "...the securities stamp duties levied by each member state have resulted in double Taxation causes discrimination and constitutes an asymmetric interference in the free flow of capital, so it should be abolished through tax coordination...";

b, Germany: abolished in 1991;

c, Sweden and Finland: The introduction of financial instrument transaction taxes in the 1980s failed. Not only did national tax revenue drop, but it also led to the outflow of stock transactions to other financial centers in Europe, so they were first levied and then abolished;

< p>d, France and Belgium: are being levied, but there is a cap on the fixed tax rate;

e, the United Kingdom: are being levied, and the issue of abolition is under hot discussion;

India: Starting from June 1st, a. Delivery transactions: increased from 0.1% to 0.125%; b. Pre-delivery transactions: The tax rate increased from 0.02% to 0.025%, and the buyer pays the tax.

Overview of changes in stamp tax rates for securities transactions in China

On June 28, 1990, Shenzhen City promulgated the "Interim Provisions on Taxation of Equity Transfers and Income from Individual Stock Holdings", which was the first to levy the tax rate. The stamp tax on stock transactions is paid by the person selling the stock at a rate of 0.6% of the transaction amount.

On November 23, 1990, Shenzhen City also imposed a stamp tax of 0.6% on buyers of stocks. In October 1991, in order to stimulate the sluggish stock market, Shenzhen adjusted the stamp tax rate to 0.3%. On October 10, 1991, the Shanghai Stock Exchange implemented a two-way tax on stock buyers and sellers, with a tax rate of 0.3%.

On June 12, 1992, the State Administration of Taxation and the State Restructuring Commission jointly issued the "Interim Provisions on Taxation Issues for Joint-stock Pilot Enterprises", which clearly stipulated that both parties to the transaction should pay stamp tax at a rate of 0.3% respectively.

In May 1997, in response to the tendency of excessive speculation in the securities market at that time, the stamp tax rate for securities transactions was increased from 0.3% to 0.5%.

On June 12, 1998, in order to ensure the sustainable and stable development of the securities market, with the approval of the State Council, the State Administration of Taxation lowered the tax rate from 0.5% to 0.4%.

On June 1, 1999, in order to activate the B-share market, the State Administration of Taxation of China once again reduced the B-share transaction tax rate to 0.3%.

Effective November 16, 2001, the Ministry of Finance will adjust the stamp tax rate for securities (stock) transactions. For A-share and B-share equity transfer documents written for sale, inheritance, and donation, both parties to the document shall pay securities (stock) transaction stamp tax at a tax rate of 0.2% respectively.

Effective from May 30, 2007, the stamp tax rate for securities (stock) transactions will be adjusted from the current 1‰ to 3‰. That is, for A-share and B-share equity transfer documents written for sale, inheritance, and donation, the parties involved in the document shall pay securities (stock) transaction stamp tax at a rate of 3‰ respectively.

Effective from April 24, 2008, the stamp tax rate for securities (stock) transactions will be adjusted from the current 3‰ to 1‰. That is to say, for the A-share and B-share equity transfer data recorded in the purchase, sale, inheritance, and gift, the parties involved shall pay securities transaction stamp tax at a rate of 1‰ respectively.