The conditions for levying personal income tax on the interest income from savings deposits paid by Bank of China on behalf of individuals are:

1. Obtain interest on RMB and foreign currency savings deposits from savings institutions within the territory of the People's Republic of China and the People's Republic of China. Individuals with income shall pay personal income tax in accordance with regulations.

2. The basis for calculating personal income tax on interest income from savings deposits is the interest income from RMB and foreign currency savings deposits obtained by taxpayers.

3. Personal income tax is levied on savings deposit interest income, and the adjustment of the tax reduction rate shall be determined by the State Council.

4. Interest income from education savings deposits obtained by individuals and interest income from other special savings deposits or special savings fund deposits determined by the financial department of the State Council are exempt from personal income tax.

5. Personal income tax is levied on interest income from savings deposits based on the amount of interest income obtained each time.

The above content is for your reference, please refer to actual business regulations.

If you have any questions, please feel free to consult Bank of China’s online customer service.

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