China mulls tax cut for meagre earners

Discussion in 'China' started by amoy, Apr 21, 2011.

  1. amoy

    amoy Senior Member Senior Member

    Jan 17, 2010
    Likes Received:
    Below also in response to unsustainable export / infrastructures growth


    Income tax rate under review
    By Wang Xing (China Daily)
    Updated: 2011-04-21 07:24 Comments(0) PrintMail Large Medium Small
    Proposal will let wage earners keep larger slice

    BEIJING - Taxpayers may be able to keep more of their income under a proposal submitted by the State Council to the nation's top legislature.

    The Chinese Cabinet's proposal aims to raise the personal income tax threshold from 2,000 yuan ($306) to 3,000 yuan in a bid to boost domestic demand and reduce the burden on wage earners.

    The draft amendment, presented to the Standing Committee of the National People's Congress, also proposed a reduction in the number of income tax brackets from nine to seven.

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  3. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

    Dec 17, 2009
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    One thing I never understood is why foreigners get over twice the deduction than Chinese do.

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