Research on the Reasons and Impacts of The Implementation of The New Stamp Duty Law and Tax Rate Adjustment

Abstract

On June 10, 2021, the Standing Committee of the National People's Congress adopted the Stamp Tax Law of the People's Republic of China, which was officially implemented on July 1, 2022. This is the first official legal document issued for stamp duty since the Provisional Regulations of the People's Republic of China on Stamp Duty issued by the State Council in 1988. The new stamp tax law redefines the stamp duty items, tax rates, tax bases, etc. on the premise of ensuring that the current tax system framework remains unchanged and the tax burden level is relatively stable. This article will analyze the impact of the reform of the new stamp tax law from the perspective of legislative thinking, market background, etc., and put forward suggestions on the direction of tax law reform based on this.