Subscribe now & get informed!
Browse by Categories
News Details
* China To Extend Stamp Duty Exemption For Closed-End FundsThe exemption applies to funds listed on the Shanghai and Shenzhen securities exchanges from 1st January 2003 and is available to both individual and institutional investors.
While the government announcement failed to detail the duration of the extended stamp duty exemption, it is widely perceived that the measure will last for a considerable time.
The measure to exempt closed-end funds from the tax came about in 1998 when such vehicles were established. The exemption has since been extended twice, in 2000 and 2001.