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CN Said to Consider Exempting Div. Tax on HK Stocks for CN Individual Investors
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China is considering exempting Chinese individual investors investing in Hong Kong stocks through the Southbound Trading of Stock Connects from paying the 20% income tax on dividends, so as to avoid double taxation in mainland China and Hong Kong, Bloomberg quoted sources as saying. It is reported that the draft plan has been reported to the relevant regulators, and there are still uncertainties as to whether the plan will be finalized with no definite implementation date. A spokesman of the Securities and Futures Commission (SFC) and HKEX (00388.HK) declined to comment. AAStocks Financial News |
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