Regulations Governing the Scope of Non-Core Business Income of Banking, Insurance, Trust Investment, Securities, Futures, Commercial paper, and Pawn-Broking Businesses
2023-05-19
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Article 1
The Regulations herein are set forth pursuant to Paragraph 2, Article 11 of the Value-Added and Non-Value-Added Business Tax Act (hereunder referred to as the "Act").
Article 2
The non-core business income as referred to under these Regulations shall mean the income derived from operations not exclusive to banking, insurance, trust investment, securities, futures, commercial paper, and pawn-broking for the respective businesses.
Article 3
The non-core business income of banking, insurance, trust investment, securities, futures, commercial paper, and pawn-broking businesses shall include the following:
1. For banking businesses:
(1) Processing fee income from bill collection and payment making services.
(2) Yields from managing non-financial asset properties by entrustment.
(3) Profits from buying and selling gold, silver, gold coins, and silver coins.
(4) Processing fees from payment services for debit card and credit card.
(5) Income from leasing and trading movables, immovables, and safe boxes.
(6) Profits from buying accounts receivable.
(7) Professional charge income from financial advice and consulting services.
(8) Processing fee income from selling revenue stamps and uniform invoices.
(9) Revenues from selling publications.
(10) Other income from non-banking exclusive operations.
2. For insurance businesses:
(1) Income from leasing and trading movables and immovables.
(2) Revenues from selling publications.
(3) Other income from non-insurance exclusive operations.
3. For trust investment businesses:
(1) Processing fee income from bill collection and payment making services.
(2) Yields from managing non-financial asset properties by entrustment.
(3) Profits from buying and selling gold, silver, gold coins, and silver coins.
(4) Service charge income from credit card applications and transactions.
(5) Income from leasing and trading movables, immovables, and safe boxes.
(6) Profits from buying accounts receivable.
(7) Professional charge income from financial advice and consulting services.
(8) Processing fee income from selling revenue stamps and uniform invoices.
(9) Service charge income from testament execution and estate management by entrustment.
(10) Income from serving as corporate reorganization supervisor.
(11) Revenues from selling publications.
(12) Other income from non-trust investment exclusive operations.
4. For securities businesses:
(1) Income from leasing and trading movables and immovables.
(2) Revenues from selling publications, excluding revenue from the sales of publications related to securities investment consulting enterprises, securities investment analysis business, as well as revenue from the sales of publications related to credit rating agencies for rating business.
(3) Other income from non-securities exclusive operations.
5. For futures businesses:
(1) Income from leasing and trading movables and immovables.
(2) Revenues from selling publications, excluding relevant publications revenue from the sales of futures advisory enterprises accepted mandates to provide research analysis opinions or promotional recommendations on futures trading, futures trust funds, futures-related spot commodities, or other transactions or investment matters related to items announced or approved by the competent authority.
(3) Other income from non-futures exclusive operations.
6. For commercial paper businesses:
(1) Income from leasing and trading movables and immovables.
(2) Income from corporate finance consulting related services.
(3) Revenues from selling publications.
(4) Other income from non-transaction instruments exclusive operations.
7. For pawn-broking businesses:
(1) Revenues from selling pawned objects.
(2) Other income from non-pawn broking exclusive operations.
During the amended implementation period of Item 2, Subparagraph 4 and Item 2, Subparagraph 5 of the preceding Paragraph, the same shall be applicable to the cases where the taxable tax are not yet levied or pending final decisions.
1. For banking businesses:
(1) Processing fee income from bill collection and payment making services.
(2) Yields from managing non-financial asset properties by entrustment.
(3) Profits from buying and selling gold, silver, gold coins, and silver coins.
(4) Processing fees from payment services for debit card and credit card.
(5) Income from leasing and trading movables, immovables, and safe boxes.
(6) Profits from buying accounts receivable.
(7) Professional charge income from financial advice and consulting services.
(8) Processing fee income from selling revenue stamps and uniform invoices.
(9) Revenues from selling publications.
(10) Other income from non-banking exclusive operations.
2. For insurance businesses:
(1) Income from leasing and trading movables and immovables.
(2) Revenues from selling publications.
(3) Other income from non-insurance exclusive operations.
3. For trust investment businesses:
(1) Processing fee income from bill collection and payment making services.
(2) Yields from managing non-financial asset properties by entrustment.
(3) Profits from buying and selling gold, silver, gold coins, and silver coins.
(4) Service charge income from credit card applications and transactions.
(5) Income from leasing and trading movables, immovables, and safe boxes.
(6) Profits from buying accounts receivable.
(7) Professional charge income from financial advice and consulting services.
(8) Processing fee income from selling revenue stamps and uniform invoices.
(9) Service charge income from testament execution and estate management by entrustment.
(10) Income from serving as corporate reorganization supervisor.
(11) Revenues from selling publications.
(12) Other income from non-trust investment exclusive operations.
4. For securities businesses:
(1) Income from leasing and trading movables and immovables.
(2) Revenues from selling publications, excluding revenue from the sales of publications related to securities investment consulting enterprises, securities investment analysis business, as well as revenue from the sales of publications related to credit rating agencies for rating business.
(3) Other income from non-securities exclusive operations.
5. For futures businesses:
(1) Income from leasing and trading movables and immovables.
(2) Revenues from selling publications, excluding relevant publications revenue from the sales of futures advisory enterprises accepted mandates to provide research analysis opinions or promotional recommendations on futures trading, futures trust funds, futures-related spot commodities, or other transactions or investment matters related to items announced or approved by the competent authority.
(3) Other income from non-futures exclusive operations.
6. For commercial paper businesses:
(1) Income from leasing and trading movables and immovables.
(2) Income from corporate finance consulting related services.
(3) Revenues from selling publications.
(4) Other income from non-transaction instruments exclusive operations.
7. For pawn-broking businesses:
(1) Revenues from selling pawned objects.
(2) Other income from non-pawn broking exclusive operations.
During the amended implementation period of Item 2, Subparagraph 4 and Item 2, Subparagraph 5 of the preceding Paragraph, the same shall be applicable to the cases where the taxable tax are not yet levied or pending final decisions.
Article 4
These Regulations shall take force on the day of promulgation, except that Item 2, Subparagraph 4 and Item 2, Subparagraph 5 of Paragraph 1 and Paragraph 2 of the preceding Article shall take force on May 1, 2023.
Note:
In case of any discrepancy between the English version and the Chinese text of this Act, the Chinese text shall govern.
Note:
In case of any discrepancy between the English version and the Chinese text of this Act, the Chinese text shall govern.