Circular on Issues Relevant to the Policy of Graduated Individual Income Tax on Dividends and Extra Dividends from Listed Companies
关于上市公司股息红利差别化个人所得税政策有关问题的通知
Individual income tax policy revised to encourage long-term stock investment.
(Issued by the Ministry of Finance, the State Administration of Taxation and the China Securities Regulatory Commission on September 7 2015 and effective as of September 8 2015.)
(财政部、国家税务总局、中国证券监督管理委员会于二零一五年九月七日公布，自二零一五年九月八日起施行。)
Cai Shui [2015] No.101
财税 [2015] 101号
Financial departments (bureaus), offices of the State Administration of Taxation and local taxation bureaus of the provinces, autonomous regions, municipalities directly under the central government and cities with independent development plans, the Finance Bureau of the Xingjiang Production and Construction Corp, the Shanghai and Shenzhen Stock Exchanges, National Equities Exchange and Quotations Co., Ltd. and China Securities Depository and Clearing Corporation Limited:
各省、自治区、直辖市、计划单列市财政厅（局）、国家税务局、地方税务局，新疆生产建设兵团财务局，上海、深圳证券交易所，全国中小企业股份转让系统有限责任公司，中国证券登记结算公司：
Following approval by the State Council, we hereby notify you on issues relevant to the policy of graduated individual income tax on dividends and extra dividends from listed companies as follows:
经国务院批准，现就上市公司股息红利差别化个人所得税政策等有关问题通知如下：
1. Where an individual has acquired shares of a listed company from the public offering and transfer market and holds such shares for more than one year, he/she shall provisionally be exempt from individual income tax on the dividend and/or extra dividend income.
一、个人从公开发行和转让市场取得的上市公司股票，持股期限超过1年的，股息红利所得暂免征收个人所得税。
Where an individual has acquired shares of a listed company from the public offering and transfer market and holds such shares for one month or less, all of his/her dividend and/or extra dividend income shall count as part of his/her taxable income; if he/she holds such shares for more than one month but for one year or less, his/her dividend and/or extra dividend income shall count as part of his/her taxable income at the reduced rate of 50%; and all of the aforementioned income shall be subject to individual income tax at the uniform rate of 20%.
个人从公开发行和转让市场取得的上市公司股票，持股期限在1个月以内（含1个月）的，其股息红利所得全额计入应纳税所得额；持股期限在1个月以上至1年（含1年）的，暂减按50%计入应纳税所得额；上述所得统一适用20%的税率计征个人所得税。
2. When a listed company pays out dividends and/or extra dividends, it shall, provisionally, not withhold individual income tax for those individuals who have held shares for up to one year. Once such an individual transfers shares, the securities depository and clearing company shall calculate his/her tax payable based on the time he/she held the shares and the securities company or other such share custodian shall deduct the amount from the individual's fund account and transfer it to the securities depository and clearing company. The securities depository and clearing company shall transfer the same to the listed company within the first five working days of the following month, and the listed company shall file and pay the same with/to the competent tax authority within the statutory filing period for the month in which it received the tax amount.
二、上市公司派发股息红利时，对个人持股1年以内（含1年）的，上市公司暂不扣缴个人所得税；待个人转让股票时，证券登记结算公司根据其持股期限计算应纳税额，由证券公司等股份托管机构从个人资金账户中扣收并划付证券登记结算公司，证券登记结算公司应于次月5个工作日内划付上市公司，上市公司在收到税款当月的法定申报期内向主管税务机关申报缴纳。
3. Other operational matters relating to the policy of graduated individual income tax on dividends and extra dividends from listed companies shall be handled in accordance with relevant provisions of the Ministry of Finance, State Administration of Taxation and China Securities Regulatory Commission, Circular on Issues Relevant to the Implementation of a Policy of Graduated Individual Income Tax on Dividends and Bonuses from Listed Companies (Cai Shui [2012] No.85).
三、上市公司股息红利差别化个人所得税政策其他有关操作事项，按照《财政部国家税务总局 证监会关于实施上市公司股息红利差别化个人所得税政策有关问题的通知》（财税〔2012〕85号）的相关规定执行。
4. The policy for graduated individual income tax on dividends and extra dividends from companies listed on the National Equities Exchange and Quotations shall be handled in accordance with the provisions hereof. Other relevant operational matters shall be handled in accordance with relevant provisions of the Ministry of Finance, State Administration of Taxation and China Securities Regulatory Commission, Circular on Issues Relevant to the Implementation of a Policy of Graduated Individual Income Tax on Dividends and Extra Dividends from Companies Listed on the National Equities Exchange and Quotations (Cai Shui [2014] No.48).
四、全国中小企业股份转让系统挂牌公司股息红利差别化个人所得税政策，按照本通知规定执行。其他有关操作事项，按照《财政部国家税务总局证监会关于实施全国中小企业股份转让系统挂牌公司股息红利差别化个人所得税政策有关问题的通知》（财税〔2014〕48号）的相关规定执行。
5. This Circular shall be effective as of September 8 2015.
五、本通知自2015年9月8日起施行。
Where a listed company pays dividends and/or extra dividends and the date of record is on or later than September 8 2015, the dividend and extra dividend income shall be handled in accordance with the provisions hereof. The shareholding period for shares of a listed company held by an individual investor in a securities account on the date of implementation hereof shall count from the date on which the shares were acquired.
clp reference:3230/15.09.08prc reference:财税 [2015] 101号promulgated:2015-09-07effective:2015-09-08上市公司派发股息红利，股权登记日在2015年9月8日之后的，股息红利所得按照本通知的规定执行。本通知实施之日个人投资者证券账户已持有的上市公司股票，其持股时间自取得之日起计算。
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