The rumor that adjusting the stamp duty cause the setbacks of the stock market
China A-shares fell sharply. Among them, Shenzhen Component Index is down 200 points, Shanghai composite index falling 37 points, once again approaching 3000 points mark. Some analysts believe that rumors of the duty adjustment today is one important reason for the stock market decline.
Recently, the “bilateral collected from stamp duty in April,” rumors frequently found in the mainland media. National Tax Administration officials did not make it clear whether to adjust the stamp duty. This ambiguous attitude, objectively facilitated the spread of rumors trend, although some experts have pointed out that the stamp duty policy adjustments and the introduction of stock index futures almost no necessary connection, but the SAT did not make a clear response to circumstances, investors rumors is still skeptical.
For the adjustment of stamp duty speculation, the Central University of Finance and Institute of Finance, Professor Qiang said the rumor as early as the beginning of this year alone, but there is no need to adjust the stamp duty. The current market conditions, stamp duty and policy should be stable. He Qiang said that the amount of stamp duty depends on the market, the level of activity, while the smaller the initial launch of stock index futures, stock index futures as the scale, the market “both sides to” transactions are more active, the total amount of stamp duty at this time there will also be greatly increased .
Revenue Growth Decreased 30% in August
Yesterday, the Ministry of Finance announced that the tax earnings in August 2008; the absolute amount of tax revenue and growth rate created the lowest level in single month this year.
Ministry of Finance: Overall Tax Policy is proposed to alleviate the Burden in Recent Years
Ministry of Finance recently issued a report that in order to promote economic and social development, our country has issued a series of policies to reduce the burden of corporate and personal taxes; the adjustment of policies caused large-scale tax reduction. Ministry of Finance predicted that to reduce stamp duty on securities transactions would reduce 100 billion yuan for financial revenue.
Environmental tax policy has been put on the agenda
Vice minster of Environmental Protection Department, Pan Yue said that the Environmental Protection Department was associating with other other sectors of the economy to establish environmental tax policy; he disclosed that the department had put forward the proposal on “Corporation Preferential Income Tax Directory of Environmental Protection Equipment”.
Other News:
A: Ministry of Finance and State Administration of Taxation declared to adjust the stamp duty on securities transaction into unilateral taxation.
B:Central Huijin Investment Company Limited announced that they would self-purchase the share of Industrial and Commercial Bank, Bank of China, Construction Bank in the secondary market.
C:State-owned Assets Supervision Commission made it clear that the commission would support the central enterprises to increase or repurchase the shares of listed companies. The Securities Regulatory Commission announced that the above measures would play an important role on the stable and sound operation of the capital market; and they expressed their positive support.
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