China will not tax local govt bond interest
Updated: 2011-09-22 15:54
(Xinhua)
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BEIJING- The Ministry of Finance said?Sept 22?it has decided to exempt interest on local government bonds issued between 2009 and this year from corporate income tax and individual income tax.
The decision has been approved by the State Council, or China's Cabinet, according to a statement posted on the ministry's website.
Local government bonds refer to bonds issued by provinces, autonomous regions, municipalities and cities specifically designated in the state plan.
