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China will lower the tax burden for.....>

CHINA PRESS
MNI (London)
CHINA PRESS: China will lower the tax burden for partners in venture capital
firms, the State Council has decided, aiming to boost innovation. Partners'
equity transfer and dividend yield from one VC fund will be subjected to
personal income tax at a tax rate of 20%, Xinhua news agency reported late
Wednesday.
- Partners of VC firms can also choose to pay their personal income tax based on
the overall annual income of the firm, using progressive rates ranging from 5%
to 35%, the report said.
- The new policy will be effective from 2019 and will run for five years, the
report said.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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