Decision of the State Council on Amending the Measures for the Implementation of of Collection of Individual Income Tax on Interest

Decision of the State Council on Amending the Measures for the Implementation of of Collection of Individual Income Tax on Interest

Order of the State Council [2007] No. 502

July 20, 2007

The Decision of the State Council onAmending the Measures for the Implementation of Collection of Individual Income Tax on Interest is now published and should go into effect as of August 15, 2007.

Prime Minister: Wen Jiabao

The Decision of the State Council on Amending the Measures for the Implementation of Collection of Individual Income Tax on Interest

The State Council decides to amend the Measures for the Implementation of Collection of Individual Income Tax on Interest as follows:

Article 1 Article 4 should be amended as:"The individual income tax on interest income should be collected at the reduced tax rate of 5%.
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