問：我公司是在深圳證券交易所上市的公司，公司對員工實施股權(quán)激勵，形式為限制性股票，該限制性股票分年解禁，請問員工取得解禁前的股息紅利是否適用按50%計入應(yīng)納稅所得額，適用20%的稅率計征個人所得稅的政策？

　　Q: Our company is listed on the Shenzhen Stock Exchange and implements equity incentives for employees in the form of restricted stocks. These restricted stocks are released annually. May I ask if the policy of including 50% of the dividends received by employees before the release of restrictions in the taxable income and applying a 20% tax rate for personal income tax is applicable?

　　答：《財政部 國家稅務(wù)總局 證監(jiān)會關(guān)于實施上市公司股息紅利差別化個人所得稅政策有關(guān)問題的通知》（財稅[2012]85號）第一條規(guī)定，個人從公開發(fā)行和轉(zhuǎn)讓市場取得的上市公司股票，持股期限在1個月以內(nèi)（含1個月）的，其股息紅利所得全額計入應(yīng)納稅所得額；持股期限在1個月以上至1年（含1年）的，暫減按50%計入應(yīng)納稅所得額；持股期限超過1年的，暫減按25%計入應(yīng)納稅所得額。上述所得統(tǒng)一適用20%的稅率計征個人所得稅。前款所稱上市公司是指在上海證券交易所、深圳證券交易所掛牌交易的上市公司；持股期限是指個人從公開發(fā)行和轉(zhuǎn)讓市場取得上市公司股票之日至轉(zhuǎn)讓交割該股票之日前一日的持有時間。

　　Answer: According to Article 1 of the "Notice of the Ministry of Finance, the State Administration of Taxation, and the China Securities Regulatory Commission on Relevant Issues Concerning the Implementation of Differentiated Personal Income Tax Policies for Dividends and Bonuses of Listed Companies" (Caishui [2012] No. 85), if an individual obtains listed company stocks from public issuance and transfer markets and holds them for a period of less than one month (including one month), their dividend and bonus income shall be fully included in the taxable income; If the shareholding period is between one month and one year (including one year), it shall be temporarily reduced by 50% and included in the taxable income; If the shareholding period exceeds one year, it shall be temporarily reduced by 25% and included in the taxable income. The above-mentioned income shall be uniformly subject to a personal income tax rate of 20%. The listed company referred to in the preceding paragraph refers to a listed company listed and traded on the Shanghai Stock Exchange and Shenzhen Stock Exchange; The holding period refers to the period from the date an individual acquires shares of a listed company from the public offering and transfer market to the day before the transfer and delivery of the shares.

　　《財政部 國家稅務(wù)總局 證監(jiān)會關(guān)于上市公司股息紅利差別化個人所得稅政策有關(guān)問題的通知》（財稅[2015]101號）第一條規(guī)定，自2015年9月8日起，個人從公開發(fā)行和轉(zhuǎn)讓市場取得的上市公司股票，持股期限超過1年的，股息紅利所得暫免征收個人所得稅。個人從公開發(fā)行和轉(zhuǎn)讓市場取得的上市公司股票，持股期限在1個月以內(nèi)（含1個月）的，其股息紅利所得全額計入應(yīng)納稅所得額；持股期限在1個月以上至1年（含1年）的，暫減按50%計入應(yīng)納稅所得額；上述所得統(tǒng)一適用20%的稅率計征個人所得稅。第三條規(guī)定，上市公司股息紅利差別化個人所得稅政策其他有關(guān)操作事項，按照《財政部 國家稅務(wù)總局證監(jiān)會關(guān)于實施上市公司股息紅利差別化個人所得稅政策有關(guān)問題的通知》（財稅[2012]85號）的相關(guān)規(guī)定執(zhí)行。

　　According to Article 1 of the "Notice of the Ministry of Finance, the State Administration of Taxation, and the China Securities Regulatory Commission on Issues Related to Differentiated Personal Income Tax Policies for Dividends and Bonuses of Listed Companies" (Caishui [2015] No. 101), starting from September 8, 2015, individuals who obtain listed company stocks from public issuance and transfer markets and hold them for more than one year are temporarily exempt from personal income tax on dividend and bonus income. If an individual obtains shares of a listed company from the public offering and transfer market with a holding period of less than one month (including one month), the full amount of dividend income shall be included in the taxable income; If the shareholding period is between one month and one year (including one year), it shall be temporarily reduced by 50% and included in the taxable income; The above-mentioned income shall be uniformly subject to a personal income tax rate of 20%. Article 3 stipulates that other relevant operational matters of the differentiated personal income tax policy for dividends and bonuses of listed companies shall be implemented in accordance with the relevant provisions of the "Notice of the Ministry of Finance, the State Administration of Taxation, and the China Securities Regulatory Commission on the Implementation of the Differentiated Personal Income Tax Policy for Dividends and Bonuses of Listed Companies" (Caishui [2012] No. 85).

　　財稅[2012]85號第六條規(guī)定，本通知所稱個人從公開發(fā)行和轉(zhuǎn)讓市場取得的上市公司股票包括：（一）通過證券交易所集中交易系統(tǒng)或大宗交易系統(tǒng)取得的股票；（二）通過協(xié)議轉(zhuǎn)讓取得的股票；（三）因司法扣劃取得的股票；（四）因依法繼承或家庭財產(chǎn)分割取得的股票；（五）通過收購取得的股票；（六）權(quán)證行權(quán)取得的股票；（七）使用可轉(zhuǎn)換公司債券轉(zhuǎn)換的股票；（八）取得發(fā)行的股票、配股、股份股利及公積金轉(zhuǎn)增股本；（九）持有從代辦股份轉(zhuǎn)讓系統(tǒng)轉(zhuǎn)到主板市場（或中小板、創(chuàng)業(yè)板市場）的股票；（十）上市公司合并，個人持有的被合并公司股票轉(zhuǎn)換的合并后公司股票；（十一）上市公司分立，個人持有的被分立公司股票轉(zhuǎn)換的分立后公司股票；（十二）其他從公開發(fā)行和轉(zhuǎn)讓市場取得的股票。

　　Article 6 of Caishui [2012] No. 85 stipulates that the stocks of listed companies obtained by individuals from public issuance and transfer markets referred to in this notice include: (1) stocks obtained through the centralized trading system or block trading system of the stock exchange; （2） Stocks acquired through agreement transfer; （3） Stocks obtained through judicial deduction; （4） Stocks obtained through lawful inheritance or family property division; （5） Stocks acquired through acquisition; （6） Stocks obtained through exercise of warrants; （7） Stocks converted using convertible corporate bonds; （8） Obtain issued stocks, rights issues, stock dividends, and conversion of public reserves into share capital; （9） Holding stocks transferred from the proxy share transfer system to the main board market (or the SME board, ChiNext board market); （10） The merger of listed companies involves the conversion of individual holdings of the merged company's stock into the merged company's stock; （11） The separation of a listed company and the conversion of individual held shares of the separated company into shares of the separated company; （12） Other stocks obtained from public offerings and transfer markets.

　　財稅[2012]85號第四條規(guī)定，對個人持有的上市公司限售股，解禁后取得的股息紅利，按照本通知規(guī)定計算納稅，持股時間自解禁日起計算；解禁前取得的股息紅利繼續(xù)暫減按50%計入應(yīng)納稅所得額，適用20%的稅率計征個人所得稅。前款所稱限售股，是指財稅[2009]167號文件和財稅[2010]70號文件規(guī)定的限售股。

　　According to Article 4 of Caishui [2012] No. 85, for individuals holding restricted shares of listed companies, the dividends and bonuses obtained after the lifting of restrictions shall be calculated and taxed in accordance with the provisions of this notice, and the holding period shall be calculated from the date of lifting restrictions; The dividends obtained before the lifting of the ban will continue to be temporarily reduced by 50% and included in the taxable income, with a personal income tax rate of 20% applicable. The restricted shares referred to in the preceding paragraph refer to the restricted shares specified in the Finance and Taxation [2009] No. 167 and Finance and Taxation [2010] No. 70 documents.

　　《財政部 國家稅務(wù)總局 證監(jiān)會關(guān)于個人轉(zhuǎn)讓上市公司限售股所得征收個人所得稅有關(guān)問題的通知》（財稅[2009]167號）第一條規(guī)定，自2010年1月1日起，對個人轉(zhuǎn)讓限售股取得的所得，按照“財產(chǎn)轉(zhuǎn)讓所得”，適用20%的比例稅率征收個人所得稅。第二條規(guī)定，本通知所稱限售股，包括：1.上市公司股權(quán)分置改革完成后股票復(fù)牌日之前股東所持原非流通股股份，以及股票復(fù)牌日至解禁日期間由上述股份孳生的送、轉(zhuǎn)股；2.2006年股權(quán)分置改革新老劃斷后，首次公開發(fā)行股票并上市的公司形成的限售股，以及上市首日至解禁日期間由上述股份孳生的送、轉(zhuǎn)股；3.財政部、稅務(wù)總局、法制辦和證監(jiān)會共同確定的其他限售股。

　　According to Article 1 of the "Notice of the Ministry of Finance, the State Administration of Taxation, and the China Securities Regulatory Commission on Relevant Issues Concerning the Collection of Personal Income Tax on Income from the Transfer of Restricted Shares of Listed Companies by Individuals" (Caishui [2009] No. 167), starting from January 1, 2010, the income obtained by individuals from the transfer of restricted shares shall be subject to personal income tax at a rate of 20% based on "property transfer income". Article 2 stipulates that the restricted shares referred to in this notice include: 1. The original non tradable shares held by shareholders before the resumption of trading of the shares after the completion of the shareholding reform of the listed company, as well as the shares converted from the above-mentioned shares during the period from the resumption of trading to the unlocking date; 2. Restricted shares formed by companies that have issued and listed their shares for the first time after the separation of old and new shares in the 2006 equity reform, as well as bonus and conversion shares generated from the above-mentioned shares between the first day of listing and the unlocking date; 3. Other restricted shares jointly determined by the Ministry of Finance, the State Administration of Taxation, the Legal Affairs Office, and the China Securities Regulatory Commission.

　　《財政部 國家稅務(wù)總局 證監(jiān)會關(guān)于個人轉(zhuǎn)讓上市公司限售股所得征收個人所得稅有關(guān)問題的補充通知》（財稅[2010]70號）第一條規(guī)定，本通知所稱限售股，包括：（一）財稅[2009]167號文件規(guī)定的限售股；（二）個人從機構(gòu)或其他個人受讓的未解禁限售股；（三）個人因依法繼承或家庭財產(chǎn)依法分割取得的限售股；（四）個人持有的從代辦股份轉(zhuǎn)讓系統(tǒng)轉(zhuǎn)到主板市場（或中小板、創(chuàng)業(yè)板市場）的限售股；（五）上市公司吸收合并中，個人持有的原被合并方公司限售股所轉(zhuǎn)換的合并方公司股份；（六）上市公司分立中，個人持有的被分立方公司限售股所轉(zhuǎn)換的分立后公司股份；（七）其他限售股。

　　According to Article 1 of the Supplementary Notice of the Ministry of Finance, the State Administration of Taxation, and the China Securities Regulatory Commission on Relevant Issues Concerning the Collection of Personal Income Tax on Income from the Transfer of Restricted Shares of Listed Companies by Individuals (Caishui [2010] No. 70), the restricted shares referred to in this notice include: (1) restricted shares as stipulated in Caishui [2009] No. 167; （2） Unresolved restricted shares acquired by individuals from institutions or other individuals; （3） Restricted shares acquired by individuals through lawful inheritance or lawful division of family property; （4） Restricted shares held by individuals that have been transferred from the proxy share transfer system to the main board market (or the SME board, ChiNext board market); （5） In the absorption and merger of listed companies, the shares of the merging company converted from the restricted shares of the original merged company held by individuals; （6） In the separation of a listed company, the shares of the separated company converted from the restricted shares held by individuals in the separated company; （7） Other restricted shares.

　　《財政部 國家稅務(wù)總局關(guān)于股票增值權(quán)所得和限制性股票所得征收個人所得稅有關(guān)問題的通知》（財稅[2009]5號?）第三條規(guī)定，限制性股票，是指上市公司按照股權(quán)激勵計劃約定的條件，授予公司員工一定數(shù)量本公司的股票。

　　According to Article 3 of the "Notice of the Ministry of Finance and the State Administration of Taxation on Issues Related to the Collection of Personal Income Tax on Income from Stock Appreciation Rights and Restricted Stocks" (Caishui [2009] No. 5), restricted stocks refer to a certain number of stocks granted by a listed company to its employees in accordance with the conditions stipulated in the equity incentive plan.

　　根據(jù)上述規(guī)定，你公司員工取得的限制性股票不屬于財稅[2009]167號和財稅[2010]70號文件規(guī)定的限售股，是公司按照股權(quán)激勵計劃約定的條件授予員工的，屬于財稅[2012]85號文件中規(guī)定的從公開發(fā)行和轉(zhuǎn)讓市場取得的上市公司股票。員工取得限制性股票解禁前的股息紅利所得不適用按50%計入應(yīng)納稅所得額并適用20%的稅率計征個人所得稅的政策，而適用財稅[2015]101號文件第一條規(guī)定的股息紅利差別化個人所得稅政策。

　　According to the above regulations, the restricted shares obtained by your company's employees do not belong to the restricted shares stipulated in the documents Caishui [2009] No. 167 and Caishui [2010] No. 70. They are granted to employees by the company according to the conditions stipulated in the equity incentive plan, and belong to the listed company stocks obtained from public banks and transfer markets as stipulated in Caishui [2012] No. 85. The policy of calculating personal income tax at a rate of 20% on dividends and bonuses obtained by employees before the lifting of restricted stock restrictions does not apply to the 50% calculation of taxable income and the application of the 20% tax rate. Instead, the policy of differentiated personal income tax on dividends and bonuses stipulated in Article 1 of document Caishui [2015] No. 101 applies.

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