Tax Authority announced on the administration of stamp tax collection to make the declaration term clear

We remind you that the Stamp Duty Law of the People's Republic of China, adopted at the 29th Session of the Standing Committee of the 13th National People's Congress of the People's Republic of China on June 10, 2021, has became effective from July 1, 2022.

Tax authority of Shanghai, Beijing and Shenzhen have make announcements on the administration of stamp tax collection respectively to make the declaration term clear.

Shanghai Tax Authority:

1. Stamp tax of taxable contracts shall be declared and paid quarterly. Taxpayers who do not often file taxable contracts can choose to declare and pay based on each transaction.
2. Stamp tax of taxable documents for transferring property rights shall be declared and paid based on each transaction. Taxpayers who have to often file such documents and feel difficulty to declare based on transaction, can choose to declare and pay on a quarterly basis.
3. Stamp tax of taxable business books shall be declared and paid on a yearly basis.
4. Stamp tax for overseas enterprises or individuals shall be paid based on each transaction. Taxpayers who have difficulty can choose to declare and pay on a yearly basis.

Beijing Tax Authority:

1. Stamp tax of taxable contracts and documents of transferring property rights shall be declared and paid based on each transaction; Taxpayers who are enterprises can choose to declare and pay on a quarterly basis.
2. Stamp tax of taxable business books shall be declared and paid on a yearly basis.
3. Stamp tax for overseas enterprises or individuals shall be paid based on each transaction. Taxpayers who have difficulty can choose to declare and pay on a yearly basis.

Shenzhen Tax Authority:

1. Taxpayers who are enterprises shall declare and pay the stamp duty of taxable contracts and documents of transferring property rights on a quarterly basis.
2. Stamp tax of taxable business books shall be declared and paid on a yearly basis.
3. If the declaration cannot be fulfilled within a fixed period, the stamp duty can be declared and paid based on each transaction;

d.         Taxpayers who are individuals shall declare and pay the stamp duty based on each transaction.