Core Points - The notice outlines tax policies to support the transfer and management of state-owned equity and cash income for the social security fund [1][2] - The policies include exemptions from value-added tax, corporate income tax, and stamp duty for specific transactions related to state-owned equity [1][2] Tax Policies Summary - All interest and income from financial products obtained through loans related to the transferred state-owned equity and cash income will be exempt from value-added tax [1] - Income from the transfer of state-owned equity and cash income investments will be classified as non-taxable income for corporate income tax purposes [1] - The transfer of non-listed state-owned equity will be exempt from stamp duty for the receiving entity [1] - For the transfer of listed state-owned equity and securities transactions using cash income, a system of advance collection and subsequent refund of stamp duty will be implemented [1] Definition of Receiving Entities - The notice defines the receiving entities as those responsible for managing the operation of transferred state-owned equity and cash income, including the National Social Security Fund Council and state-owned companies established by local governments [2] Implementation Date - The policies will take effect from April 1, 2024, and any taxes paid prior to the notice that meet the criteria can be refunded [2]

Core Points - The notification outlines tax policies to support the transfer and management of state-owned equity and cash income for the social security fund [1][3] - The policies are aimed at the entities responsible for managing the transferred state-owned equity and cash income, as defined by the State Council [1][3] Tax Policies Summary - All interest and interest-like income from loan services obtained by the managing entities during the investment process of transferred state-owned equity and cash income will be exempt from value-added tax [3] - Income derived from the transfer of state-owned equity and cash income investments will be classified as non-taxable income for corporate income tax purposes [3] - The transfer of non-listed state-owned equity by the managing entities will be exempt from stamp duty [3] - For the transfer of listed state-owned equity and the sale of securities using cash income, a system of advance collection and subsequent refund of the securities transaction stamp duty will be implemented [3][2]

Core Viewpoint - The article outlines tax policies related to the transfer and management of state-owned equity and cash income to support the social security fund, emphasizing tax exemptions and reductions for the entities involved in these operations [2][3][4][5]. Tax Policy Summary - The transfer of state-owned equity and cash income for investment purposes will be exempt from value-added tax (VAT) on all interest and interest-like income, as well as income from the transfer of financial products [2]. - Income derived from the transfer of state-owned equity and cash income investments will be classified as non-taxable income for corporate income tax purposes [2]. - The transfer of non-listed state-owned equity by the receiving entity will be exempt from stamp duty [3]. - For the transfer of listed state-owned equity and the trading of securities using cash income, a system of advance collection and subsequent refund of the securities transaction stamp duty will be implemented [4]. - The term "receiving entity" refers to organizations responsible for managing the operation of transferred state-owned equity and cash income, as specified in the relevant government notice [4]. - The new tax policies will take effect from April 1, 2024, and any taxes paid prior to this date that meet the criteria will be eligible for refund [5].

Core Viewpoint - The Ministry of Finance and the State Taxation Administration have issued a notice regarding tax policies for the transfer and management of state-owned equity and cash income to support the social security fund [1][2]. Tax Policy Summary - All interest and interest-like income from loans obtained during the investment process of transferred state-owned equity and cash income will be exempt from value-added tax [1]. - Income derived from the transfer of state-owned equity and cash income investments will be classified as non-taxable income for corporate income tax purposes [1]. - The transfer of non-listed state-owned equity by the receiving entity will be exempt from stamp duty [1]. - For the transfer of listed state-owned equity and the sale of securities using cash income, a pre-collection and post-refund policy for securities transaction stamp duty will be implemented [1]. - The term "receiving entity" refers to organizations responsible for managing state-owned equity and cash income as outlined in the State Council's implementation plan [1]. Implementation Timeline - The notice will take effect from April 1, 2024, and tax payments made prior to this date that meet the notice's criteria may be refunded [2].

Core Viewpoint - The Ministry of Finance and the State Taxation Administration have issued a notice regarding tax policies for the transfer and management of state-owned equity and cash income to support the social security fund [1][2][3][4]. Group 1 - The notice states that all interest and income from financial products obtained through loans related to the transferred state-owned equity and cash income will be exempt from value-added tax [1]. - Income derived from the transfer of state-owned equity and cash income investments will be classified as non-taxable income for corporate income tax purposes [2]. - The transfer of non-listed state-owned equity by the receiving entity will be exempt from the stamp duty that would normally be payable [3]. Group 2 - For the transfer of listed state-owned equity and the sale of securities using cash income, a system of advance collection and subsequent refund of the securities transaction stamp duty will be implemented [4]. - The notice defines the receiving entities as those specified in the State Council's implementation plan for transferring part of the state capital to enrich the social security fund, including the National Social Security Fund Council and state-owned companies established by local governments for managing the transferred equity [4]. - This notice will take effect from April 1, 2024, and taxes paid prior to the notice that meet its criteria may be refunded [5].