Arab Today, arab today local governments in china no longer share securities stamp duty revenue
Last Updated : GMT 08:39:35
Arab Today, arab today
Arab Today, arab today

Local governments in China no longer share securities stamp duty revenue

Arab Today, arab today

Arab Today, arab today Local governments in China no longer share securities stamp duty revenue

Securities transactions
Beijing - XINHUA

Local governments in China will no longer share revenue from stamp duty on securities transactions from Jan. 1, 2016, according to a statement released by the State Council on Thursday.

Currently, 97 percent of the revenue goes to the central government with 3 percent going to local governments.

The move is to improve fiscal revenue distribution between the central and local governments, the statement said, without giving more details.

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