Tax changes will ease dependency burden

IN THE SECOND DRAFT of the Personal Income Tax Amendment published on Monday, the Standing Committee of the National People's Congress, China's top legislature, included expenditure on care for the elderly as a deductible item. Beijing News comments:

In the first draft of the amendment, the legislature suggested five expenditures that can be deducted from personal income before tax - education spending, further education spending, serious illness treatment spending, the interest on housing loans or rent.

In the second review, the expenses for supporting the elderly have been included in the list of deductible expenditures.