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Article: Former tax official suggests capital gains tax, removing stamp duty
- Article from:
- Xinhua News Agency
- Article date:
- April 8, 2008
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Copyright informationCopyright 2008 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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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 ...