China imposes the highest stamp tax on securities transfer!!!

China imposes the highest stamp tax on securities transfer!!!
Jul 20, 2007 02:32
LEOPOLD219 Points: Join Date: Feb 7, 2007 Status: offline	Source: People's Daily. Most of the nations in the world only levy securities transfer tax on those vendors except China (including Hong Kong) and Australia. China and Australia levy securities transfer tax on both vendors and buyers. Meanwhile, China imposes the highest stamp tax (securities transfer tax) in the world. In USA, the securities transfer tax has been cancelled during the reign of Clinton. South Korea only levy 0.3% securities transfer tax on those vendors. Spain imposes 0.11% securities transfer tax on the vendors. Belgium levy about 0.035% on shares of those listed companies. Italy, 0.05% to 0.075%. Singapore, 0.1% stamp tax and 0.2% transfer tax on buyers. Why does China impose so much stamp tax? It is said that China will also change its way to impose stamp tax just on buyers or vendors and it is helpful to recover the stock market. Is that true?

Jul 20, 2007 02:32

LEOPOLD219
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Join Date: Feb 7, 2007
Status: offline

Source: People's Daily.

Most of the nations in the world only levy securities transfer tax on those vendors except China (including Hong Kong) and Australia. China and Australia levy securities transfer tax on both vendors and buyers. Meanwhile, China imposes the highest stamp tax (securities transfer tax) in the world.

In USA, the securities transfer tax has been cancelled during the reign of Clinton. South Korea only levy 0.3% securities transfer tax on those vendors. Spain imposes 0.11% securities transfer tax on the vendors. Belgium levy about 0.035% on shares of those listed companies. Italy, 0.05% to 0.075%. Singapore, 0.1% stamp tax and 0.2% transfer tax on buyers.

Why does China impose so much stamp tax? It is said that China will also change its way to impose stamp tax just on buyers or vendors and it is helpful to recover the stock market. Is that true?

Jul 24, 2007 23:06

KEVIN0518
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Join Date: Mar 13, 2007
Status: Offline

Well, the stock market in China is not as mature as others in foreign courtries. Dozens of days ago, China raised the stamp tax to cool down the stock market. However, it failed. As some experts said, it is time to do reform in levying stamp tax because it is the demand of the market. Maybe, the government will do so. What the government have done is to ensure the market can develop healthily. But the result is alway unexpected.

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