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Announcement on Issues Concerning Business Tax in Securities Lending and Borrowing Businesses

Document No.:Announcement No. 20 of the State Administration of Taxation in 2016

Taxes:Business Tax

Date of Promulgation:2016-03-31

IssueDepartment:State Administration of Taxation

Date of Implementatio:2016-03-31


Issued by: State Administration of Taxation

Document No.: Announcement No. 20 of the State Administration of Taxation in 2016

Date of Issuance: 2016-3-31

The issues concerning business tax in securities lending and borrowing businesses of securities companies are hereby clarified as follows:

Securities lending and borrowing businesses conducted by securities companies refers to the securities companies’ signing securities lending and borrowing contracts with their clients, opening special fund accounts and special securities accounts in the name of the securities companies to finance funds and securities for their clients and thus acquiring the income derived from securities lending and borrowing businesses from their clients. The business offices, established in the places other than the securities companies’ own headquarters, take charge of receiving clients’ applications, inputting client materials in the system, assisting to pen accounts and other auxiliary work.
In accordance with the Interim Regulations of the People’s Republic of China on Business Tax, securities companies shall, as business tax payers of securities lending and borrowing businesses, file tax returns with the in-charge taxation authorities, in the places where their institutions are located, for their acquired income derived from securities lending and borrowing businesses; the business offices, established in the places other than securities companies’ own headquarters, are not business tax payers of securities lending and borrowing businesses and thus they shall not file business tax returns for the income derived from securities lending and borrowing businesses.
The announcement shall be executed from the date on which it is published. Any transaction which has occurred but not yet been dealt with shall be executed according to the provisions of the Announcement.


State Administration of Taxation

March 31st, 2016


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