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NOTICE OF THE MINISTRY OF FINANCE AND THE STATE ADMINISTRATION OF TAXATION ON TAX POLICIES CONCERNING THE SECURITIES INVESTMENT FUNDS
 
(No. 78 [2004] of the Ministry of Finance and State Administration of Taxation April 30, 2004)
     
     
SUBJECT : FUNDS; SECURITIES INVESTMENT FUNDS; EXEMPTION
ISSUING DEPARTMENT : THE MINISTRY OF FINANCE OF THE PEOPLE'S REPUBLIC OF CHINA, STATE ADMINISTRATION OF TAXATION
ISSUE DATE : 04/30/2004
IMPLEMENT DATE : 04/01/2004
LENGTH : 66 words
TEXT :
Upon the approval of the State Council, we hereby make the following notice on the relevant tax policies concerning securities investment funds:

From January 1, 2004, business tax and enterprise income tax shall still be exempted on the income of price difference gained by management personnel of securities investment funds (closed-end securities investment fund and open-end securities investment fund), with which they buy stocks or bonds.
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