Announcement of State Taxation Administration of The People's Republic of China City, People's Republic of China (PRC) on Several Issues Concerning the Pilot Collection and Management of VAT Transformation (State Taxation Administration of The People's Republic of China Announcement No.53, 20 16): Article 6 stipulates that if a bank provides loan services and collects interest on schedule, all the interest income collected on the interest settlement date will be included in the sales during the interest settlement date, and the value-added tax will be calculated and paid according to the current regulations. At the same time, the Notice on Defining the Value-added Tax Policy for Financial Real Estate Development, Education and Auxiliary Services (Caishui [20 16] 140) stipulates that the unpaid interest receivable within 90 days from the interest settlement date shall be implemented according to the current regulations, and the unpaid interest receivable after 90 days from the interest settlement date shall not be subject to value-added tax temporarily, but shall be implemented according to the regulations when the interest is actually received.