The Notice of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) on Printing and Distributing Notes on Business Tax Items (Trial Draft) (Guo Shui Fa [1993] 149) stipulates that business tax is not levied on deposits or purchases of financial commodities.
The Notice of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) on Printing and Distributing the Answers to Business Tax Questions (Part I) (Guo Fa [1995]No. 156) stipulates that financial institutions or other units that lend funds to others for use shall be regarded as loans, and business tax shall be levied according to the tax item of "financial insurance".
The Notice of Fujian Provincial State Taxation Bureau on Levying Business Tax on Financial Enterprises' Financing and Subscription of New Shares (Guo Min Guo Shui Fa [20065438+0] No.20) stipulates that if financial enterprises engage in "financing on behalf of customers" and the deposit interest income obtained from banks can be distributed according to the proportion of the capital invested by the entrusting party, business tax is not levied; Otherwise, business tax will be levied as brokerage fee income.
With reference to the above provisions, customers entrust bank deposits to financial institutions to invest in short-term wealth management products, and financial institutions use wealth management funds to invest in fixed-income wealth management products. Customers do not bear the investment risk and get the floating income with variable capital preservation.
It can be seen that this kind of floating income does not meet the requirements of "not taking risks with investors, but only charging fixed income, which is regarded as lending behavior". Therefore, if the customer obtains floating income which is not fixed, the business tax will not be paid according to the deposit interest income for the time being in the case of unclear tax law.