State Council, Implementing Measures for Levy and Collection of Individual Income Tax on Interest Income from Savings Deposits (Revised)

国务院对储蓄存款利息所得征收个人所得税的实施办法 (修订)

September 02, 2007 | BY

clpstaff &clp articles &

Individual income tax on savings interest significantly reduced.

Clp Reference: 3230/07.07.20 Promulgated: 2007-07-20 Effective: 2007-08-15

Promulgated: July 20 2007
Effective: August 15 2007

Main Contents: The amended Implementing Measures reduce the individual income tax rate for interest income from savings deposits from 20% to 5%.

Related Legislation: PRC Individual Income Tax Law (4th Revision), Jun 29 2007, CLP 2007 No.6 p.15; and PRC Law on the Administration of the Levy and Collection of Taxes (Revised in April 2001), Apr 28 2001, CLP 2001 No.5 p.12 & CLP 1995 No.3 p.12

clp reference:3230/07.07.20promulgated:2007-07-20effective:2007-08-15

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