China Financial Daily

Administration of Taxation clear stake in the transfer of personal issues related to personal income tax collection
Administration of Taxation recently issued a formal document, a clear personal stake in the transfer of personal income tax collection related issues. Administration of Taxation said that the relevant person in charge, mainly in order to plug the loopholes in the tax administration.

Documents, personal equity to complete the transaction after the transfer, the transferor has a tax liability or withholding obligation to pay the transferee should be to the tax authorities for personal income tax returns and obtain proof of duty-paid, to the industrial and commercial administration departments change procedures.

In recent years, with development of the market economy, personal investment in our country more and more common, at the same time, individuals are also more and more transfer options. It is understood that my personal stake in the transfer occurred in the number of huge, has the greatest stake in the transfer of tax cases, is the founder of Beijing Zhang Dazhong Electrical Appliances due to the transfer of their equity holdings to Gome [1.12 0.00%] and those who pay 5.6 billion personal income tax.

SAT-related person in charge, at present, China’s personal stake in the transfer of non-listed companies according to “the transfer of property from” the collection of personal income tax 20 percent. However, as the majority of individual taxpayers and share transfer agents of the tax policy is still relatively unfamiliar, do not perform in accordance with the law and withholding tax obligations of the more common phenomenon.

“And with the transfer of personal stake in sporadic and concealment, transfer prices and subjective and the tax authorities that exist in the tax administration is difficult.” He said, in order to plug loopholes in tax administration, the State Administration of Taxation issued the transfer of the shares on strengthening the collection of personal income derived from management of the individual in the process of share transfer made in principle the provisions of tax-related issues.

Document clear and equity transfer agreement the parties signed a share transfer, but did not complete the share transfer transactions, enterprises in the industrial and commercial administration departments to apply for registration of ownership changes, we should fill out the “changes in the individual shareholder report card”, to the competent tax authorities declaration; the completion of share transfer transactions, the lender has a tax liability or obligations to the transferor or transferee should be in charge of the tax returns for the tax authorities and tax authorities had issued from the share transfer certificate to pay personal income tax paid or duty-free, non-taxation has proved that the industrial and commercial administration departments to change the registration of shares.

Documentation requirements, local tax authorities to attach great importance to the transfer of ownership of personal income tax collection and management, the initiative to step up collaboration with the business sector, access to the personal stake in the transfer of information; further standardize the transfer of equity from personal income tax collection and management processes, establish a complete chain management and internal control mechanisms ; of the tax declaration and justification based on the obvious low, and may the light of the net assets per share or individuals to enjoy the equity shareholders by the corresponding proportion of the share of net assets approved.

“This document transfers ownership to strengthen tax collection and management will play a positive role in promoting.” Shaanxi Province to the Inland Revenue Department Tax Department relevant person in charge in an interview with reporters said. According to him, last year the province has a personal stake in the transfer of the personal income tax to pay 140 million yuan.

“The share transfer documents from the collection of personal income tax collection and management made a point of order to further standardize and put forward a more specific request, so that front-line units in charge of law enforcement will help to plug tax loopholes in the tax authorities, customs duty may be caused by the loss of the ‘valve’. “to the trade.

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