On Leasing Stamp Tax System and Its perfection

Under current law, stamp tax imposed on leasing is regulated by administrative rules promulgated by agencies under the State Council and administrative norm documents,the main part of which is Specific Rules on Stamp Tax Levied on Loan Contract issued by the State Administration of Taxation on December12th,1988. However, these rules and documents are problematic. Firstly, they almost cannot be counted as law even in its most extended definition. Secondly, they distinguish sales from leasing, and impose stamp tax on them individually. Thirdly, they treat Financial Leasing House and Foreign-Capital Financial Leasing Company etc discriminatively. Lastly, how to impose stamp tax on sales and leaseback is ambiguous. The key to solve these problems lie in, on the one hand, that financing other than sale or rent is the point of leasing, on the other hand, that leasing is numbered in Stamp Tax Schedule of Tax Items and Tax Rates when Interim Regulations of the People's Republic of China on Stamp Tax is transformed into Stamp Tax Act of the People's Republic of China in the future.