恢复征收国债等利息收入增值税

Core Viewpoint - The Ministry of Finance and the State Taxation Administration announced the resumption of value-added tax (VAT) on interest income from newly issued government bonds, local government bonds, and financial bonds starting from August 8, 2025 [1] Summary by Relevant Sections - The announcement specifies that interest income from government bonds, local government bonds, and financial bonds issued after August 8, 2025, will be subject to VAT [1] - Bonds issued before August 8, 2025, will continue to be exempt from VAT until maturity, including any portions issued after this date [1] - Financial bonds are defined as securities issued by financial institutions legally established in the People's Republic of China, which are held by these institutions and repay principal and interest as agreed [1] - Experts indicate that the policy adjustment reflects the maturity of the bond market in China, where the goal of exempting VAT on interest income has been achieved [1] - The "new and old segmentation" approach allows existing bonds to continue enjoying preferential policies until maturity, facilitating a smooth implementation of the policy adjustment and supporting the healthy development of the bond market [1]