how does stamp tax work??

how does stamp tax work??
Apr 23, 2008 23:40
guestbooyah!	I see they have reduced the stamp tax to .1 from .3 before. If somebody is trading stocks like 600677 at lets say 17 600677 ....100017=17000cny....then 17000.01= 170cny stamp tax or is the .01 for the buy and sell making it only .005 for each transaction..like 17000.005 =85 stamp tax per buy and sell Right now my contact is charging me 1.5% on every buy and every sell so lets say 170000.015=255 for the buy and 255 for the sale...thats 510.. thats like $75usd in fees for a $2400usd deal...crazy right!!!!!! is it that simple or do I have to pay other taxes or commissions on there as well?? I'm dealing through a broker in China and I think hes scamming me for every buy and sell. Can someone please explain how the stamp tax and trading commissions work in China....thanks

Apr 23, 2008 23:40

guestbooyah!

I see they have reduced the stamp tax to .1 from .3 before. If somebody is trading stocks like 600677 at lets say 17

600677 ....1000*17=17000cny....then 17000*.01= 170cny stamp tax

or is the .01 for the buy and sell making it only .005 for each transaction..like 17000*.005 =85 stamp tax per buy and sell

Right now my contact is charging me 1.5% on every buy and every sell so lets say 17000*0.015=255 for the buy and 255 for the sale...thats 510.. thats like $75usd in fees for a $2400usd deal...crazy right!!!!!!

is it that simple or do I have to pay other taxes or commissions on there as well?? I'm dealing through a broker in China and I think hes scamming me for every buy and sell. Can someone please explain how the stamp tax and trading commissions work in China....thanks

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