Home>News Center>China
       
 

Personal income tax threshold to be raised
By Su Bei (China Daily)
Updated: 2005-07-29 06:16

China is expected to raise the threshold for personal income tax from the present 800 yuan (US$99) to 1,200 yuan (US$148) or higher, as the country tries to amend the existing personal income tax law.

Personal income tax threshold to be raised
A cyclist rides past a billboard to promote public awareness of personal income tax in Shanghai, July 28, 2005. [newsphoto]
An executive meeting of the State Council, China's cabinet, approved in principle on Tuesday the draft amendment to the law.

Ministers agreed to submit the draft to the Standing Committee of the National People's Congress for deliberation after further revisions.

Some at the meeting believed the existing law had fallen behind the times and needed to be revised, following the continuous growth of the economy and the subsequent rise in living standards.

Professor An Tifu from Renmin University of China, who participated in earlier discussions on the draft amendments, said the threshold would be raised, as it was considered low.

"Previous discussions agreed the threshold should be set at 1,500 yuan (US$185)," he said.

However, the government could set it at 1,200 yuan (US$148) and allow the threshold to float in different provinces, municipalities and autonomous regions, he said.

   上一页 1 2 3 下一页  



Fire kills 5 in Northeast China
Aerobatics show in Hunan
Final rehearsal
  Today's Top News     Top China News
 

Australia, US, Japan praise China for Asia engagement

 

   
 

Banker: China doing its best on flexible yuan

 

   
 

Hopes high for oil pipeline deal

 

   
 

Possibilities of bird flu outbreaks reduced

 

   
 

Milosevic buried after emotional farewell

 

   
 

China considers trade contracts in India

 

   
  EU likely to impose tax on imports of Chinese shoes
   
  Bankers confident about future growth
   
  Curtain to be raised on Year of Russia
   
  Coal output set to reach record high of 2.5b tons
   
  WTO: China should reconsider currency plan
   
  China: Military buildup 'transparent'
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
China scraps agricultural taxes in 2006
   
Agricultural tax to be scrapped from 2006
   
Agricultural tax to be scrapped from 2006
   
It's high time tax reform started
   
Debates to centre upon tax reforms
   
Debates to centre upon tax reforms
   
Taxes form east to pay for rural social programs
   
Survey: more than half want tax cuts
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement