重！ 国务院是否通过了《减免印花税法》以降低A股印花税？ _东方财富网

原标题：重！ 国务院是否通过了《减免印花税法》以降低A股印花税？ 将税项纳入法律规范发出了什么信号？

概要

[Heavy!DoestheStateCouncilpassthe”DraftStampDutyLaw”forA-sharestampdutyreduction?】Thethreewords”stampduty”arealwayssosensitivetothestockmarketsoeye-catching!AccordingtotheChinesegovernmentwebsitePremierLiKeqiangoftheStateCouncilhostedanexecutivemeetingoftheStateCouncilonJanuary4tolistentoathird-partyassessmentreportontheimplementationofthe”RegulationsonOptimizingtheBusinessEnvironment”requestingtofurtheropenuptheimplementationofblockagesandimprovetheleveloflegalizationofthebusinessenvironment;passedthe”TheStampDutyLawofthePeople’sRepublicofChina(Draft)andtheRegulationsontheAdministrationofGrainCirculation(RevisedDraft)(BrokerChina)

　　The three words “stamp duty” are always so sensitive to the stock market, so eye-catching!

According to China Government Website, Premier Li Keqiang hosted the State Council Executive Meeting on January 4meeting, Listen to the third-party assessment report on the implementation of the “Regulations on Optimizing the Business Environment”, requesting to further break through the implementation of blocking points, and improve the level of legalization of the business environment; pass the “Stamp Tax Law of the People’s Republic of China (Draft)” and “Regulations on the Administration of Grain Circulation (Revised) draft)”.

When it comes to stamp duty, the draft summarizes years of practice in the interim regulations on stamp duty. On the one hand, the current tax system remains unchanged, and the stamp duty on securities transactions is included in the legal norms.At the same time, the draft stipulates trading, technology, etc.contractThe tax rate for trading with securities remains unchanged.

So, what does it mean to incorporate stamp duty into legal norms? Is there room for a reduction in stamp duty?

　　Incorporate stamp duty on securities transactions into legal regulations

Premier Li Keqiang of the State Council hosted an executive meeting of the State Council on January 4. The meeting passed the “Stamp Tax Law of the People’s Republic of China (Draft)”.

The draft summarizes years of practice in the Temporary Regulations on Stamp Duty. On the one hand, the current tax system remains unchanged and the stamp duty on securities transactions is included in the legal norms; on the other hand, tax items are appropriately streamlined, and some tax rates are reduced.enterpriseTax burden, and focus on making tax collection and management more scientific and standardized, reducing discretionary power, and plugging arbitrary loopholes.The draft stipulates that the tax rates for trading, technology and other contracts and securities transactions will remain unchanged, reducing processing contracts and constructionEngineering InvestigationTax rates for design, cargo transportation contracts and business account books, abolish stamp tax items for licenses, etc., and make it clear that the current preferential stamp tax policies will remain unchanged. The meeting decided to submit the draft to the Standing Committee of the National People’s Congress for deliberation.

The above-mentioned “Stamp Duty (Draft)” actually has some history. On November 1, 2018, the Ministry of Finance and the State Administration of Taxation issued theopinionDraft)” for commentsannouncementThis means that the currently applicable “Stamp Duty Provisional Regulations” will soon be replaced by the “Stamp Duty Law”, and related regulations may also be optimized together. The “Draft Opinion” proposes that the stamp duty rate for securities transactions remains unchanged and remainsDealOne thousandth of the amount.At the same time, it is clarified that the taxpayer or tax rate adjustment of the securities transaction stamp tax shall be determined by the State Council and reported to the executive affairs of the National People’s Congress.CommitteeRecord.

In the State Council’s 2020 Legislation issued by the General Office of the State Council on July 6, 2020jobsIn the Plan, the first item of the bill to be submitted to the Standing Committee of the National People’s Congress is the “Draft Stamp Tax Law” (drafted by the Ministry of Finance and the State Administration of Taxation).

The Press Conference of the Spokesperson of the Legal Work Committee of the Standing Committee of the National People’s Congress will be held at 10 a.m. on December 21, 2020 in the Representative Reception Room on the first floor of the National People’s Congress Office Building (1 Qianmen West Street). The spokesperson of the Legal Work Committee, Yue Zhongming, said that the legislative work in 2021 will promote high-quality development, drive development around innovation, ensure comprehensive deepening of reform and opening up, and amend the Science and Technology Progress Law,Antitrustlaw,the companylaw,Corporate Bankruptcy Law, MakefuturesTax laws, stamp tax laws, etc.

　　What signal was released?

Judging from the documents, the stamp duty on securities transactions has not been adjusted. However, although the stamp duty rate has not been adjusted, the authority to adjust is given to the State Council. In other words, the State Council has the right to adjust according to actual conditions, which may be a potential signal of stamp duty changes, and tax flexibility can be greatly improved.At the same time, whenmarketWhen there is an extremely inactive market, it is also conducive to timely intervention.

　　Northeast SecuritiesPublishedResearch reportSaid that although the draft did not actually adjust the stamp duty on securities transactions, the responsibility for the adjustment of stamp duty was delegated to the State Council, which is more conducive to the overall management and control of stamp duty collection, and the possibility of further reduction of stamp duty will not be ruled out in the future.

Yuekai Securities Asset ManagementinvestmentDirector Zhu PengxiangBrokerageA Chinese reporter stated that my country’s securities transaction stamp duty is levied unilaterally (collected when sold), and the tax rate is one thousandth. The current inclusion of stamp duty on securities transactions into legal norms shows that the country attaches importance to the construction of capital markets. With the gradual improvement of the legal system of the securities market, the A-share market will become a reservoir of residents’ wealth.

He also said that from the development experience of the world’s major stock markets, most countries do not levy stamp duty. In the long run, the abolition of stock stamp duty is a general trend. Taking into account the current stage of my country’s capital market, the securities stamp tax is a tool for the government to regulate the market, and the supervisory guidance still needs to be paid attention to in the short term.

　　Is there room for a reduction in stamp duty?

In the history of A-shares, stamp duty has undergone 9 adjustments, from the initial bilateral levy of three-thousandths to the current unilateral levy of one-thousandths. Each adjustment of A shares will have significant fluctuations, and the general market will rise sharply, but then The trading day gradually calmed down, and there was no precedent for changing the direction of the index. It was more emotional.

The current stamp duty on securities transactions still adopts the 2008 regulations, that is, a unilateral levy of 1‰.What is still fresh in the memory of many old investors is the “Midnight Cock” on May 30, 2007. At that time, the stamp duty increased from 1‰ to 3‰.Plummet. However, the stock market still maintained its gains and hit a record high of 6124 in October of that year.

On April 24, 2008, as the market continuedKill, The market rescue policy was promulgated again, and the stamp duty rate was lowered from 3‰ to 1‰. The market soared by 304 points, or 9.29%, but this did not change the trajectory of the market. On September 19, 2008, during the global financial crisis, A shares continued to plummet, and the transaction stamp duty was only lowered again, and it was determined to be unilaterally levied.Shanghai IndexIt rose by 9.45%, and more than 1,000 stocks rose by more than 9%. However, the stock index hit a low of 1,664 points after more than a month.

In October 2018, Huang Qifan stated in his speech that taxation on the capital market in the securities market should have special considerations, such as stamp duty, which should now be eliminated. There are more than 100 securities markets in the world, and now only China and India collect stamp duty.

However, analysts believe that from the current situation of China’s stock market, the possibility of abolishing stamp duty is unlikely. First of all, this is a large financial source. According to the fiscal revenue and expenditure in November announced by the Ministry of Finance, from January to November, the domestic stamp duty amounted to 290.6 billion yuan.Year-on-yearAn increase of 27.9%. Among them, the securities transaction stamp tax was 172.8 billion yuan, accounting for 59.46% of the total stamp duty, an increase of 49.2% year-on-year; secondly, the current Chinese stock market is relatively healthy, there is no basis for a bear market, and it is not time to use this ultimate weapon to rescue the market; Third, even if the stock market fluctuates greatly, there are still better tools to operate than stamp duty.

(Source: Brokerage China)

(Editor in charge: DF380)