China has no plans to impose capital gains tax at present

时间：2007-06-08 05:41:17

（单词翻译:单击）

Chinanews, Shanghai, June 8 – China does not have any plans to impose a capital gains tax at present, for the conditions to impose such tax are not mature. Even if China does have any plans to impose such tax, the government needs to follow a series of legal procedures before it can do so. Such legal procedures might take a very long time to complete and the legal process should be highly transparent1, the Shanghai Securities Journal reported.

 

“Some people assert that the capital gains tax can be launched at any time, just like the securities transaction stamp tax. This only shows that they have a very superficial understanding of laws. Such assertion cannot be backed by law,” an authoritative2 person who remained anonymous3 told this reporter on Wednesday.

 

According to the "Interim4 Regulation on Stamp Tax" issued by the State Council in 1988, Chinese government has the power to decide when to launch the stamp tax. However, the capital gains tax is different. It is a totally new type of tax and currently, there are no laws that stipulate5 how to impose such tax. If China plans to launch this new tax, it should follow related legal procedures, just like when China started to impose the corporate6 tax. As far as I know, China does not have any plans to impose the capital gains tax at the moment, the authoritative person said.

 

His statement was confirmed by an official. According to this official, the capital gains tax covers a wide range of business areas. It is applicable not only to securities transactions gains, but also to earnings7 made through house sales and sales of private collections. So, such tax might affect many aspects of the economy. At present, conditions for launching such tax are not mature yet. So, China is unlikely to impose such tax at present, the official said.

 
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1 transparent Smhwx     
adj.明显的，无疑的；透明的
参考例句：
  • The water is so transparent that we can see the fishes swimming.水清澈透明，可以看到鱼儿游来游去。
  • The window glass is transparent.窗玻璃是透明的。
2 authoritative 6O3yU     
adj.有权威的，可相信的；命令式的；官方的
参考例句：
  • David speaks in an authoritative tone.大卫以命令的口吻说话。
  • Her smile was warm but authoritative.她的笑容很和蔼，同时又透着威严。
3 anonymous lM2yp     
adj.无名的；匿名的；无特色的
参考例句：
  • Sending anonymous letters is a cowardly act.寄匿名信是懦夫的行为。
  • The author wishes to remain anonymous.作者希望姓名不公开。
4 interim z5wxB     
adj.暂时的，临时的；n.间歇，过渡期间
参考例句：
  • The government is taking interim measures to help those in immediate need.政府正在采取临时措施帮助那些有立即需要的人。
  • It may turn out to be an interim technology.这可能只是个过渡技术。
5 stipulate shhyP     
vt.规定，（作为条件）讲定，保证
参考例句：
  • International rules stipulate the number of foreign entrants.国际规则规定了外国参赛者的人数。
  • Some manufacturers stipulate the price at which their goods are to be sold.有些制造商规定出售他们生产的商品的价格。
6 corporate 7olzl     
adj.共同的，全体的；公司的，企业的
参考例句：
  • This is our corporate responsibility.这是我们共同的责任。
  • His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。
7 earnings rrWxJ     
n.工资收人；利润，利益，所得
参考例句：
  • That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
  • Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。

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