Hot words

Income and property information system

个人收入和财产信息系统(gèrén shōurù hé cáichǎn xìnxī xìtǒng)

The Central Leading Group for Comprehensively Deepening Reform approved the general plan for an income and property information system on Tuesday, which has drawn wide public concern.

Experts say that establishing a registry of people's incomes and property ownership is of great significance to clean governance, as well as individual income tax reform and the introduction of a nationwide property tax.

According to experts, the information to be collected will include an individual's household registration information, real estate and vehicle registration information, income, social security information, any investments they may have, insurance information and education information.

They also suggest the construction of this system is aimed at appropriately taxing those with high incomes.