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China adopts laws on stamp duty, Hainan free trade port
Updated 20:38, 10-Jun-2021
CGTN
Great Hall of the People in Beijing, China, April 24, 2021. /CFP

Great Hall of the People in Beijing, China, April 24, 2021. /CFP

Chinese lawmakers on Thursday voted to adopt six new laws, including legislation on stamp duty.

The laws were passed at the 29th session of the Standing Committee of the 13th National People's Congress, China's top legislature, which started Monday.

The new law on stamp tax will take effect on July 1, 2022.

According to the law, the current stamp taxation system will remain unchanged. Currently, China has made laws for 12 of the 18 existing taxes.

The legislature also passed a law on Hainan free trade port, which announced plans for establishment last year, and a law against foreign sanctions.

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