Article: Former tax official suggests capital gains tax, removing stamp duty

Former tax official suggests capital gains tax, removing stamp duty

BEIJING, April 8 (Xinhua) -- China should make a long-term plan to remove stamp duty and levy capital gains tax on securities trade, a former top tax official has said.

Such a move would benefit small and medium-sized investors and help develop a healthier, mature stock market, Xu Shanda, former deputy commissioner of State Administration of Taxation, was quoted by Tuesday's Shanghai Securities News as saying.

It was unfair that small investors, who tended to buy and sell shares more frequently and were more liable to losses, had to pay heavy stamp duties, while institutional investors were charged less on stock trade and ...

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