财政部 税务总局关于国债等债券利息收入增值税政策的公告财政部 税务总局公告2025年第4号

Core Viewpoint - The announcement from the Ministry of Finance and the State Taxation Administration outlines the restoration of value-added tax (VAT) on interest income from newly issued government bonds, local government bonds, and financial bonds starting from August 8, 2025, while maintaining VAT exemption for bonds issued before this date until maturity [3]. Group 1 - From August 8, 2025, interest income from newly issued national bonds, local government bonds, and financial bonds will be subject to VAT [3]. - Interest income from bonds issued before August 8, 2025, will continue to be exempt from VAT until the bonds mature [3]. - Financial bonds refer to securities issued by legally established financial institutions in China, which are held by these institutions and pay principal and interest as agreed [3].