China to cut dividend taxes for long-term shareholders
[HONG KONG] China will remove personal income tax on dividends for shareholders who hold stocks for longer than a year, the ministry of finance, the securities regulator and the tax bureau said late on Monday.
Personal income tax on dividends will be reduced by 50 per cent if shareholders hold shares for less than a year but longer than a month, while full tax payment is required for shareholders who hold shares for less than a month, said the statement posted on the government's website.
The new measures will come into effect on Sept 8, the statement added.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Ukraine eases some wartime capital controls for businesses
Labour mayor wins cap triumphant election run for Starmer
100 years on, SICCI to focus on internationalisation, digitalisation and sustainability
Microsoft bets big on South-east Asia, pledges billions in AI and cloud investments
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers