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Tuesday, April 22, 2014, 17:32
No extra taxes on HK-Shanghai stock link
By chinadailyasia.com

HONG KONG - To help allay investors' concern about double taxation on trading shares as part of the proposed Hong Kong/Shanghai stock exchange link, a spokesman for the Chinese securities watchdog stressed the guiding principle that no extra taxes or fees will be levied.

China Securities Regulatory Commission (CSRC) spokesman Deng Ge was quoted as sxaying that the taxation scheme currently applied to Qualified Foreign Institutional Investors (QFII) program will serve as the reference until the Ministry of Finance and State Administration of Taxation adopt further administrative policies.

Ge said: "The proposed (stock exchange link) scheme will inevitably bring about some new regulatory challenges. (But) CSRC will continue to adopt innovative approaches to improve capital market regulations and to protect investors' rights."

 
 
 
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