China raises individual income tax threshold

2007-12-28 19:03:54 Xinhua English

BEIJING, Dec. 29 (Xinhua) -- China's top legislature on Saturday adopted a law amendment to raise the country's individual income tax threshold from 1,600 yuan a month to 2,000 yuan.

The individual income tax threshold increase was believed to relieve the economic burden of medium- and low-income earners amid the recent price increase of some goods.

The amendment will be effective as of March 1, 2008.