Stamp duty on securities transactions tax to curb speculation is raised to 3 ‰.

<P>: Http:// News, from May 30, 2007, the adjustment of the securities (stocks) the stamp duty rate from the current 1 ‰ adjusted to 3 ‰. .</ P> <P> </ P> <P> central bank report showed that domestic non-financial institutions sector equity financing increased significantly to further promote the healthy development of securities markets, the State Council, Ministry of Finance decided to May 30, 2007 ., the adjustment of the securities (stocks) the stamp duty rate from the current 1 ‰ adjusted to 3 ‰. .Namely, sale, inheritance, gift of the books of the A shares, B shares, according to the book equity transfer, according to the parties by the legislation were to pay the tax rate by 3 ‰ Securities (stock) trading stamp duty. .</ P> <P> raised stamp duty on securities transactions will help curb excessive market speculation </ P> <P> approved by the State Council, Ministry of Finance decided to May 30, the adjustment of the securities (stocks) the stamp duty rate from the current .1 ‰ adjusted to 3 ‰. .Namely, sale, inheritance, gift of the books of the A shares, B shares, according to stock transfer books, the parties by the legislation, according to 3% respectively. .The tax rate securities (stock) trading stamp duty. .</ P> <P> news, newspaper immediately interviewed some experts and scholars capital. .In their view, increase in stamp duty rates will increase transaction costs, some investors may be due to increased transaction costs and give up frequent buying and selling stocks, and thus inhibit the effect of speculation in the long run, conducive to the healthy development of the stock market. .</ P> <P> help to curb excessive speculation </ P> <P> retail investors are more sensitive to changes in transaction costs </ P> <P> "increase in the rate of stamp duty when the market is good, but .When the market is not the time be reduced, in line with tax instruments is used, in line with the policy functions to regulate the economy. "Galaxy Securities chief economist Zuo Xiaolei interviewed yesterday, said," should not be .understood to suppress the behavior of capital markets. "</ P> <P> operation of the macroeconomy as a major market measures, fiscal and monetary policies in regulating the operation of the macroeconomic balance and a healthy plays a huge role. .Generally speaking, fiscal policy is fiscal spending and tax policies through the adjustment of economic decision-making policy, while monetary policy is affected by interest rate adjustments and economic decision-making policies. .</ P> <P> "over a period of time, we focus too much on monetary policy, tax policy, including neglect, including the role of fiscal policy." Zuo Xiaolei, told reporters, "When the economy grow too fast or .too slow, you can use on tax policy to economic trends become more gentle. "</ P> <P> On the way to use tax policy, the left Xiaolei that, when the economy when the heat tax increases, .and lower taxes when the economic cold, in line with their own tax instruments of macroeconomic regulation and control functions. .Capital market to raise the stamp duty rate is also applicable to this rule. .</ P> <P> "running from the current stock market situation, certainly a lot hotter than in previous years. The last few years the stock market downturn, the government cut stamp duty rates. Now the stock market is hot, the corresponding increase .rate of stamp duty is also a very natural policy. "Zuo Xiaolei said," do not understand it as the current stock market trend is for a policy, not to be construed as an act of suppressing the market. "</ P> .<P> Asked increase in stamp duty rates, the impact on the stock market, left Xiaolei said, not simply to evaluate the problem. .Theoretically, increase in stamp duty rates will increase transaction costs, which can reduce the stock level of activity. .However, how the investment behavior of market feedback on this policy is individual. .</ P> <P> Zuo Xiaolei said individual investors will be to assess the capacity of this policy, and adjust the investment psychology and investment behavior. .Some investors may be due to increased transaction costs and give up frequent buying and selling stocks, and thus inhibit the effect of speculation, while the other part of the value investor is more high-yield equity investments, will not change investment behavior. .</ P> <P> Central University of Finance and assistant to the president, the former Dean of the School Finance, said Shi Jianping, after the central bank and the relevant departments to control the introduction of excess liquidity, including raising interest rates, raising the deposit reserve ratio and a series of measures, but on the stock market .capital inflows did not play a direct role in touch, the authorities issued a policy to increase the stamp duty that surprise, do not use administrative means to intervene in the case of the stock market, through taxes and other economic means of control should be said to have some effect .. .</ P> <P>.