China Alert: Financial Service Focus - Issue 2, September 2014
On 28 August 2014, the State Administration of Taxation promulgated SAT Announcement  No. 50 “Business Tax Treatment on Trading of Bonds” to clarify when bonds are disposed of before maturity, any proceeds (including interest) derived from the holding period should still be deducted from the purchase cost, thus effectively including this amount in the taxable turnover for Business Tax purposes.
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