China Scraps Taxes on Corporate Bonds for Foreigners
The Chinese government is temporarily eliminating taxes for foreign institutions looking to invest in the country’s corporate bond market amid a wave of bond defaults this year, even as international interest surges.
Overseas institutions investing in China’s $11 trillion bond market will now be exempt from paying corporate income tax and value-added tax (VAT) on their interest income for the next three years, the State Council, China’s cabinet, announced (link in Chinese) on Thursday.
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas