China mulls tax cut for meagre earners

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

  1. amoy

    amoy Senior Member Senior Member

    Joined:
    Jan 17, 2010
    Messages:
    5,524
    Likes Received:
    1,548
    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.

    for more reading: http://www.chinadaily.com.cn/china/2011-04/21/content_12365606.htm
     
  2.  
  3. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

    Joined:
    Dec 17, 2009
    Messages:
    10,397
    Likes Received:
    2,314
    One thing I never understood is why foreigners get over twice the deduction than Chinese do.
     

Share This Page