Business / Personal income tax reforms

NPC reviews personal income tax proposal

By Hao Yan ( Updated: 2011-06-27 11:07

The Standing Committee of the National People's Congress (NPC) will for the second time deliberate a proposed amendment to the country's personal income tax law. The committee will meet from Monday through Thursday this week, reported.

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The NPC Standing Committee, the country's top legislature, examined the draft amendment to the income tax law for the first time at a bimonthly session on April 22. The committee published the draft on April 25 for public feedback.

The public remains divided on the amendment, which proposes an increase of the threshold for collecting an income tax from 2,000 yuan ($309) per month to 3,000 yuan.

The committee received more than 230,000 recommendations, breaking the previous record of public comments in 2006 on the proposed Labor Contract Law.

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