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Securities Transaction Tax Required for Trading of Unlisted Stocks

The National Taxation Bureau of Northern Area (NTBNA), Ministry of Finance stated that trading of securities, with the exception of government-issued bonds, shall be subjected to securities transaction tax (STT) according to Article 1 of the Securities Transaction Tax Act. Securities refer to bonds issued by all levels of governments, shares issued by companies, corporate bonds, and other securities offered to the public with government approval. Thus, investors trading unlisted stocks shall pay STT in accordance with regulations.
The NTBNA further explained that STT shall be collected by the collecting agent on the date of transaction at the required rate (3‰) and paid to the national treasury on the following day along with a filled payment slip. In the cases where securities are sold by securities underwriters, the underwriters handling such transactions are the collecting agents. If the securities are sold by securities brokers, approved by the competent authority to engage in securities trading in stock exchanges on behalf of customers, the securities brokers are the collecting agents. If the securities are transferred directly from the holders to the transferees, the transferees are the collecting agents. If securities are auctioned by the court, the transferee of the securities shall be the auction winner. 
For further information, please call the toll-free number 0800-000321, or directly contact the regional national taxation bureaus and their branches or offices.
 

Last updated:2020-09-16