(CAISHUI [2013] NO. 5) (财政部、国家税务总局关于地方政府债券利息免征所得税问题的通知), ISSUED BY MINISTRY OF FINANCE ("MOF") AND THE STATE ADMINISTRATION OF TAXATION ("SAT")

The Notice specifies that enterprises and individuals are exempt from income tax on interest on local government bonds issued from 2012 onwards.

These include bonds to be issued and repaid by the provincial, autonomous regional, and municipal governments directly under the Central Government, and cities designated in the state plan with the approval of the State Council.

Date of issue: February 2, 2013. Effective date: February 2, 2013.