According to Article 5 of People's Republic of China (PRC) State Taxation Administration of The People's Republic of China Announcement No.40 (20 15), both parties to the transaction shall submit the Declaration Form for Special Tax Treatment of Assets (Equity) Transfer of Resident Enterprises to their respective competent tax authorities at the time of annual settlement and payment of enterprise income tax. That is, the completion date of enterprise equity transfer is carried out during the final settlement of enterprise income tax in the corresponding year.