Cabinet pledges further tax relief

About 250 million taxpayers have benefited from cuts this year

The State Council pledged on Wednesday to continue reducing the tax burden on individuals by improving the individual income tax deduction mechanism, with experts urging more steps to reduce the burden on middle-and low-income groups.

The Cabinet said in a statement after an executive meeting that it had adopted a temporary decision to exempt those whose aggregate annual income is no higher than 120,000 yuan ($17,000) within a period of two years from the obligation to declare the settlement and payment of individual income taxes.