Decision of the Standing Committee of the National People’s Congress on Amending the Individual Income Tax Law of the People’s Republic of China

(Adopted at the 28th Meeting of the Standing Committee of the Tenth National People’s Congress on June 29, 2007)

At its 28th Meeting, the Standing Committee of the Tenth National People’s Congress decided to make the following amendments to the Individual Income Tax Law of the People’s Republic of China:

Article 12 is revised to read, “Collection and reduction, and termination of the collection, of individual income tax on interest income from savings deposit, and the specific measures therefor shall be prescribed by the State Council.”

This Decision shall go into effect as of the date of promulgation.

The Individual Income Tax Law of the People’s Republic of China shall be amended correspondingly in accordance with this Decision and promulgated anew.