(“ANNOUNCEMENT”) (国家税务总局关于金融商品转让业务有关营业税问题的公告), ISSUED BY SAT
The Announcement specifies that, for the purposes of the business tax, the transfer of shares, securities, foreign exchange and other financial instruments shall not be treated separately; the income and loss made in the trading of different types of financial instruments may be offset in the same tax payment period. Business tax must be calculated and paid based on the balance after the offset. Any loss remaining after the offset may be carried forward to the next tax payment period within the current year (it cannot be carried forward to the next accounting year).
Date of issue: November 6, 2013. Effective date: December 1, 2013.