Thu, June 30, 2011
China > Mainland > China revises individual income tax law

China considers law to offer personal income tax relief

2011-04-20 03:09:43 GMT2011-04-20 11:09:43(Beijing Time)  Xinhua English

BEIJING, April 20 (Xinhua) -- Chinese legislators are discussing a draft amendment to tax law, which aims to offer tax relief for low-income households.

Lawmakers began to deliberate the draft amendment to the Individual Income Tax Law for the first time on Wednesday. The draft increases the minimum threshold for personal income tax from 2,000 yuan(306 U.S. dollars) a month to 3,000 yuan a month and cut the number of income tax brackets from nine to seven.

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